I understand this…and yet I don’t

New curbs for US banks that restrict their ability to trade with their own capital will hit liquidity and demand for eurozone government bond markets at a time when both are in short supply, bankers have warned as they prepare to lobby regulators to water down the rules.

The FT story is here.  How about a simpler rule?:  “The Volcker Rule shall be applied, in the interests of bank safety, except we shall exempt all troubled and risky asset classes.”