Monday night marked the end of the official commentary period on the Volcker Rule prior to a finalized version potentially going into effect July. The event brought out a near endless number of lobbyists, bankers, and politicians looking for a camera. Even Occupy Wall Street tried to get involved, launching a website and attempting to protest in Manhattan under the guise "Occupy the SEC."

In the attached clip I discuss the rule and its potential impact on the financial industry with Lee Munson, author of the book "Rigged Money: Beating Wall Street At Its Own Game."

Before getting into the discussion let's answer the most obvious question first: What on earth is the Volcker Rule?

The Volcker Rule didn't start out as a baffling concept. The idea, a proposed by former Federal Reserve Chair Paul Volcker amounts to this: Banks backed by U.S. government guarantee, should be prohibited from speculative investments that don't benefit their customers.

"This is really about banks making all the profit they want versus having some sort of safeguards," says Munson.

As is always the case on Wall Street, when the government makes a rule, bankers figure out a way to slither around it. This time is unlikely to be different, particularly as the simple notion laid out in the prior paragraph gets lengthened and twisted by lawmakers and the lobbyists who influence them.