Banks had made huge bets and bonuses with other people’s money.

from President Barack Obama – State Of The Union 2012 on Rap Genius

Meaning

The Clinton-era repeal of the Glass-Steagall Act made it so that the firewall between standard commercial banking and hedge fund-like investment banking was removed. Suddenly, essentially everyone’s money was sloshing around in a giant casino.

To help improve the meaning of these lyrics, visit “State Of The Union 2012” by President Barack Obama and leave a comment on the lyrics box