Takeouts: SEC chair testifies on flash crash, another attack on Chinese schoolchildren

FINANCIAL TAKEOUT: The head of the U.S. Securities and Exchange Commission warned that it will take time to get to the bottom of last week’s precipitous, if brief, market correction that lead the Dow index to drop almost 1000 points in under an hour. The New York Times’ Wall Street and finance reporter Louise Story says that hasn’t stopped the country’s top securities regulator from announcing plans to put in place safeguards from preventing a repeat ?flash crash.?

KILLINGS IN CHINA: A string of brutal attacks on schoolchildren in China has the country reeling. This morning, seven kindergarten children and one teacher were killed after a man attacked them with a meat cleaver. The Chinese government has clamped down on reporting on this most recent story in order to avoid copycat attacks. Damian Grammaticas, BBC reporter in Beijing, fills us in.