The WSJ Thinks Jamie Dimon and JP Morgan are Being Persecuted

That's what readers of the paper's Review and Outlook column would discover today. The basic point is that a large part of the $13 billion settlement that JP Morgan reached with the Justice Department involves payments to Fannie Mae and Freddie Mac over misrepresentations about the quality of mortgages in mortgage backed securities sold at the peak of the bubble. The WSJ rightly points out that Fannie Mae and Freddie Mac are really big actors, who should have known what they were doing.

Unfor...