The Wall Street Journal channels its inner cynic:

President Obama headlined a $25,000 a head Seattle fundraiser in July hosted by former Costco CEO Jim Sinegal for the liberal Senate Majority SuperPac. Perhaps you didn’t notice the lack of media outrage. That’s the context in which to understand the breathless reporting about court documents showing that Wisconsin Governor Scott Walker encouraged donations to the Wisconsin Club for Growth. The horror, the horror!

On Friday the Seventh Circuit Court of Appeals responded to a media request and released documents that had been sealed as part of a John Doe probe into Mr. Walker’s fund-raising. The court’s clerk also bungled and released, for a brief period, some documents that weren’t supposed to be unsealed, including donor names and references to bank records. Unless you’re a political Bambi, the only news in the documents is further evidence that the prosecutors are operating on an unconstitutional interpretation of campaign-finance law.

Their view is that it is illegal “coordination” for Mr. Walker to raise money for allied groups like the Wisconsin Club for Growth. But if that’s true every politician in the country had better lawyer-up.

Raising money for a political action committee or a party committee or 501(c)(4) is legal and common for politicians. In addition to his soiree at Mr. Sinegal’s, President Obama this year has made his Cabinet members available for fundraisers for Priorities USA, a SuperPac founded by two former White House aides to elect Democrats.

In 2011 Senate Majority Leader Harry Reid wrote to donors that “I’m writing to introduce you to a group solely devoted to leveling the playing field and protecting the Democratic majority in the Senate: Majority PAC.” Should he be prosecuted?

SuperPacs and 501(c)(4)s are barred from turning over the money they raise to candidates. But not even prosecutors are claiming that happened with the Wisconsin Club for Growth. The Club didn’t even advertise on behalf of Mr. Walker, devoting its spending to issue ads more relevant to defending GOP state senators who were targeted for defeat in recall elections.

The documents have already been examined by two judges who have ruled against prosecutors Francis Schmitz and John Chisholm. John Doe Judge Gregory Peterson quashed their subpoenas in January, and federal judge Rudolph Randa has issued a preliminary injunction stopping the investigation. Prosecutors are appealing, but it would be nice if the media didn’t bury their legal defeats.

Democrats and their media allies are also making much of an April 2011 email written by fundraising consultant Kate Doner noting that Mr. Walker was “encouraging all to invest in the Wisconsin Club for Growth.” The Club for Growth, she added, “can accept corporate and personal donations without limitations and no donors disclosure.”

The Milwaukee Journal Sentinel describes Ms. Doner as a “Walker campaign consultant,” implying nefarious illegal coordination. But at the time she wrote the email she was working for the Wisconsin Club for Growth and had a legal right to seek donations. She wasn’t hired as a consultant for Friends of Scott Walker until November 2011.

The press corps is also hyperventilating over names released as potential fund-raising targets—such as the Koch brothers, casino magnate Sheldon Adelson and Donald Trump. There’s another shocker: Political groups seek money from rich people who might agree with them. Hide the children.