[Wardad]

Federal Goverment does have the right to regulate interstate commerce.
The FCC does regulate wireless communications to prevent transmitters interfering with one another.
The FCC also helps regulate the phone system.
So there are legal precedants.

Where in the constitution were they given the right to restrict the freedoms of buisness?
WRONG QUESTION!!!
Where in the constitution were businesses given any rights?

"A Nation of the people, by the people and for the people.." I do not see business or corporations mentioned there.

It is true that a business or corporation can be viewed as an extension of a persons or persons. And in fact, they do enjoy some limited rights and liabilties under the law.

"Promote the common welfare"
The FEDS can bend this line a long way. It could justify the FDA, Monopoly busting, and regulation over vital infrastructure(s).

yawn, enough rant for now....