> You just don't get to support a murderous communist regime for 100 years and then say "but we had nothing to do with it".
If that argument holds (which I'm not saying it doesn't), then how much more responsible are we who have democracy and tell everyone else how great it is we have a say in how our government operates. Surely, we then hold even more of the blame on issues such as the WMD fiasco. Ironically, ask any one of us about these issues and suddenly its, we have no control over the government, and other endless excuses.
I'm not sure RenTech and Virtu are comparable though (although I'll admit I don't work in the industry, so correct me if I'm wrong), but based on the article from Matt Levine on his Bloomberg column "Why Do High Frequency Traders Never Lose Money?" [1]:
> Imagine how suspicious it would be if, for instance, your local supermarket made money on every carton of milk that it sold. That just seems too good to be true, doesn't it? How can they know the price of milk before you do? Shouldn't they be losing money on half of their milk, and making it on the other half, so that things balance out? Doesn't the fact that they always make money suggest that they're ripping you off? [...] That is, Virtu (like Goldman) is selling a product, and that product is liquidity, and it charges for that product. High-frequency trading firms are in the business of acting as middlemen, providing a valuable service by letting buyers and sellers trade as soon as they want to, rather than waiting for fundamental sellers/buyers to come in on the other side of the market.
As I understand it, RenTech is taking an investment position which is why the returns are remarkable whereas virtu is (as Levine puts it), selling liquidity.
If that argument holds (which I'm not saying it doesn't), then how much more responsible are we who have democracy and tell everyone else how great it is we have a say in how our government operates. Surely, we then hold even more of the blame on issues such as the WMD fiasco. Ironically, ask any one of us about these issues and suddenly its, we have no control over the government, and other endless excuses.