> Anyone who puts their money on the line knows the risks, this isn't stealing from the poor.
The problem here is that, for example, at least in the US, not everyone with a pension or who "contibutes" to a retirement plan is comfortable or even aware of the risks. That ignorance is not a defense, per-se, but if you've got blinders on that you're fleecing pennies off the already rich you are sorely mistaken.
I'd go so far as to argue that turning money into more money without providing a good or service in exchange is squarely immoral.