Simon Johnson, Columnist

JPMorgan Is Too Big to Whine

Claims of JPMorgan's persecution don't make sense.

October 21, 2013 at 5:30 PM UTC

Simon Johnson is a professor of entrepreneurship at the Massachusetts Institute of Technology's Sloan School of Management. He is co-author of "Jump-Starting America: How Breakthrough Science Can Revive Economic Growth and the American Dream."

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A new injustice plagues the land, at least according to people who take the side of JPMorgan Chase & Co. and its chief executive officer, Jamie Dimon, after the bank's tentative agreement to pay a record $13 billion to end civil claims related to its sales of mortgage bonds. The bank and its leader are now -- it is claimed -- subject to "politically motivated prosecution."

This is pointless whining, for three reasons.