Cramer worries that a Wall Street feeding frenzy may take down an otherwise outstanding executive.
"It's a travesty that the government is pursuing Jamie Dimon and JP Morgan relentlessly," Cramer said.
On October 11, the bank revealed that it was holding $23 billion in legal reserves against potential future claims.
"We continuously evaluate our legal reserves, but in this highly charged and unpredictable environment, with escalating demands and penalties from multiple government agencies, we thought it was prudent to significantly strengthen them," CEO Jamie Dimon said in a statement.
The Mad Money host thinks much of the forthcoming litigation is unfair; especially that which involves bad mortgages that were underwritten by Bear Stearns and Washington Mutual, two banks JPMorgan acquired.
"They made those acquisitions at the behest of the U.S. government," Cramer reminded, in an attempt to contain the financial crisis.
If anything, Cramer thinks JPMorgan should be celebrated - had they not made these acquisitions the crisis could have been far worse.