What is slick rick children's story about

Here we go,
Once upon a time not long ago,
when people wore pajamas and lived life slow,
When laws were stern and justice stood,
and people were behavin' like they ought ta good,
There lived a lil' boy who was misled,
by anotha lil' boy and this is what he said:
"Me, Ya, Ty, we gonna make sum cash,
robbin' old folks and makin' tha dash",
They did the job, money came with ease,
but one couldn't stop, it's like he had a disease,
He robbed another and another and a sista and her brotha,
tried to rob a man who was a D.T.

undercover,
The cop grabbed his arm, he started acting erratic,
he said "Keep still, boy, no need for static",
Punched him in his belly and he gave him a slap,
but little did he know the lil' boy was strapped,
The kid pulled out a gun, he said "Why did ya hit me ?",
the barrel was set straight for the cop's kidney,
The cop got scared, the kid, he starts to figure,
"I'll do years if I pull this trigga",
So he col