Mat 19:24 And again I tell you, It is easier for a camel to go through the eye of a needle, than for a rich man to enter into the kingdom of God.

Since the Greek word translated as "camel" here, kamelos, is originally of Hebrew or Aramaic origin (gamal), it really make more sense to look at the original Hebrew here than Greek. I actually prefer the Aramaic explanation offered here.

Christ's point is that wealth make pursuing the spiritual road more difficult. It is more than a distraction. Remember, Christ sees human progress as coming from passing through a cycle of matter, mind, relationships, and spirit. The order doesn't matter, but progress requires the connection to all four things. What is "worthless" (poneros, the word mistranslated into English as "evil") is getting "stuck" in any one realm.

Interestingly enough, wealth is most commonly a symbol to the realm of the intellect and mind, rather than the physical or social. As anyone who has a high-paying job or manages a great deal of money can tell you, your mind is constantly drawn away from relationships and physical reality by the seduction of the world of commerce.