Who: Elizabeth Warren, head of the new Consumer Financial Protection Bureau

What: Warren cited JPMorgan Chase's admission of overcharging 4,000 active-duty military families and erroneously foreclosing on 14 of them as another reason for a need for the Consumer Financial Protection Bureau. "We need a cop on the beat," Warren said. JPMorgan Chase has since issued an apology and $2 million in refunds to the families.

Why it's dim: The situation was resolved without any involvement by the bureau. And pending lawsuits will likely warn other banks against such mistakes.

Cure: Warren should realize she's just being redundant.