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RobG has it right
The COMMISH must monitor and veto trades to avoid making a mockery of the game.
It is not possible or desirable to make all trades equal.
It is possible to reduce the likelihood of someone taking advantage of a manager new to PB.
It is possible to avoid "sweet heart" deals between friends in different leagues when say one guy is making a run in league A and his friend is making a big run in league B.
It is possible to avoid a player "St. Louis Browns to the Yankess" trading away his team either for cash or because he's leaving the league and so helps out a friend on the way out while leaving an unbalanced league.
We need oversight to keep a level playing field just like we need umpires and referees. Players will use corked bats. PB managers will cut corners...
Thank goodness for trade oversight. Without it, I doubt any of us would be enjoying PB as much as we do.