I'm sure they do, and that's an axiomatic statement that can be horribly, catastrophically wrong but makes them feel better about their lives.
Never underestimate the very human emotional motivation of coming up with a pleasing rationalization. Just because someone earnestly says 'we are helping, so much!' doesn't mean they're correct.
To me this argument always came across as fabricated and empty.
I have seen too many examples internally at that place, where the (to me) obvious moral choice was neglected or even laughed at.
The "because of us, instruments are priced properly everywhere and that's good for everyone" is interesting.
Does that result solely exist because of us making a market? What is 'properly priced' exactly and why would it be a Bad Thing if it were less 'properly priced'? And why is this even a goal that should be pursued? And should that goal be pursued at all (and I do mean ALL) cost?
Those questions were never answered to my satisfaction.
Exactly, that was my experience too. People who were very capable of analytical rigor around cost/benefit tradeoffs suddenly became very handwavey when it came time to analyze whether the company generated enough social benefit to justify level of profit.
Never underestimate the very human emotional motivation of coming up with a pleasing rationalization. Just because someone earnestly says 'we are helping, so much!' doesn't mean they're correct.