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I'm thomas roberts. protesters took to the streets again today after lawmakers approved drastic austerity measures needed to secure a bailout and wall street took massive drop but a trading error may have caused it. it took only 90 seconds to correct but finished 350 points in the red. and a senate democratic effort to weaken financial reforms efforts. and the oil is coming on-shore on the chandeleur islands. floodwaters from the swollen kumer land river continue to recede. and lawrence taylor has been charged with third degree rape pore patronizing a british

In our control booth we've been watching the reporting on cnbc and apparently we are just getting word that a trading error at a major firm is what is blamed for the market plunge. there is a developing story. it's all we have so far. if you look at the graphic we have up on the screen right now you can see evidence of what that plunge was like. it was precipitous right there. and apparently again according to cnbc early word is that a trading error at a major firm is what is to blame for that market plunge a bit earlier today. some scary times for many as they were watching that plunge. we'll...

Called to testify before congress. mr. dimon called the trading error an embarrassment and apologized for the losses. >> this portfolio morphed into something that rather than protect the firm, created new and potentially larger risks. as a result, we've let a lot of people down and we are very sorry for it. we will not make light of these losses, but they should be put into perspective. we will lose some of our shareholders' money and for that we feel terrible, but no client, customer or taxpayer money was impacted by this event. >> dimon faced a number of questions from the senate committee,...

Latest updates on this topic from reliable sources.

We've been talking with greece with you for sometime. what role did the downfall and the chaos we're seeing in greece have to do with this? >> that was the underlying cause of the big drop on wall street yesterday. superficially, there was this so-called trading error. that spiked the stock market way down all of a sudden, within the space of 10 minutes, it was down 995 points. that's the superficial reason but underlying everything, europe is falling to pieces. there is a crisis with european finance. that's what's at the heart of this. >> let's go back to proctor & gamble for the simplistic ...