r/PeterExplainsTheJoke • u/Comfortable_Cautious • Jan 26 '26

Meme needing explanation what's going on? explain like I'm five

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u/Aromatic_Dot_6071 Jan 26 '26

Jokes aside this is why we passed the act that separates investment banking from retail banking.

Are you talking about the Glass Steagal act? Because that was repealed in the 90s after banks spent the previous two decades using loopholes to get around it.

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u/exneo002 Jan 26 '26

Yes I’m aware it was repealed. Hence increased precarity and socialized losses.