"Of course you ignore Federalist 45 and what it states because you actually believe the national government has an interest in a purely capitalistic venture."___________________________________________________________________
The federal government has an explicit constitutional interest in interstate commerce, which is what the stock market engages in. When you live in San Francisco and buy shares through an exchange in New York that provide you with part "ownership" of an enterprise in Missouri, you've just invited the feds into your business.
Sec 8. Clause 3: To regulate Commerce with foreign Nations, and among the several States, and with the Indian Tribes
This Constitutional provision doesn't care
what you are selling and buying across state lines. It only cares that you are selling and buying
something.
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" Why wasn't it involved before the mid 1930s?"__________________________________________________________________
It was. Teddy Roosevelt forced the regulation of trusts. When Morgan, Rockefeller, Harriman and Hill bucked him, he brought suit against their Northern Securities Company, effectively dismantling it. He prevailed and the USSC upheld him on appeal. I guess they never should have crossed state lines.
I should have read further. LOL
Thanks for correcting the erroneous garbage,before I got here. :-)