Markets would be a mess without laws and regulations;especially now,when there are not only more people alive, than when the NYSE started under that Buttonwood tree, but because more people,not to mention pension funds,investing in all of the markets.With the invention and the introduction of the telephone, the ticker,the lighted board,and the net, this is a far cry from the early days of stock exchanges here and abroad.
You want to go back to the supposed halcyon days of no regulations, no government departments? Those fays were rife with corruption,which damned near brought down the Bank of England and the monarchy, when the South Sea Bubble broke! Our country was almost brought to her knees, many times over, prior to the Crash of '29, And almost NO ONE was playing the market in those days.
It wasn't the Crash of '29, BTW,which first brought the Federal Government into the picture, but the horrendous depression of 1907!The Panic, which launched that depression, had Congress going nuts.And, to the best of my knowledge, FDR was neither president, nor a Congress critter in 1907.
But gee,let's just do away with ALL laws concerning stock, bond,options,futures, and commodities.Then we can have a panic, or depression, or a crash, or what have you,that will REALLY be of such proportions, you can be as miserable As you like and have a whole lot of company;instead of being miserable, with just a few companions.
Since you obviously know absolutely know absolutely whatsoever about the NYSE( forget about the other exchanges for the moment), read "THE PLUNGERS AND THE PEACOCKS", by Dana L. Thomas,for starters.
But you keep advocating FDR solutions. BTW, the issues may have arisen before but only FDR was brash, and liberal, enough to establish the SEC in 1934