Alerting Regulators News Today

Need a license. joining us now, dominic ramada. there is a lot of opinion here. one fact, there is a lot of money won and lost and it seems like its the wild west. >> absolutely. both draft kings and fan duel, there is talk of bothing for public last year. you see ads for these services all over television and the internet. >> december fight all that money that exists, as weve looked into it, it seems that there is very little regulation controlling how they do business, what happens. at one poi...

Isnt that a pretty way to say stealing? >> you know, what was most striking about todays hearing, a financial firm, a big, modern financial firm, that was supposed to be operating under the strictest of controls and under regulatory supervision could spin so far out of control in the frantic final days of this firm... the executives didnt know where the money was. they couldnt keep track of it from one moment to the next, they didnt know whether they had a shortfall in customer accounts or wheth...

Isnt that a pretty way to say stealing? >> you know, what was most striking about todays hearing, a financial firm, a big, modern financial firm, that was supposed to be operating under the strictest of controls and under regulatory supervision could spin so far out of control in the frantic final days of this firm... the executives didnt know where the money was. they couldnt keep track of it from one moment to the next, they didnt know whether they had a shortfall in customer accounts or wheth...