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Misplaced Anger

An editorial in yesterday's Wall Street Journal almost literally shrieks at "Ex-Friends of Barack" and demands an inquiry into  compensation at Fannie Mae that would extend far beyond Jim Johnson,  who sleazy though he was is now nothing more than another case of political gotcha.

Of course, the WSJ has never been outraged at gargantuan corporate  salaries. In fact, it has ridiculed any oversight of the general matter and certainly legislative and criminal investigations of the Wall Street debacle.

But back to Fannie Mae, Clearwater and James Johnson: "A further  federal probe would seem to be warranted..." And then comes the  paper's editorial disdain fur just such probers: "and we assume Barney  Frank and his fellow mortgage moralizers will want to dig into this  palm-greasing from Capitol Hill." There!