Speaking as someone most of you people consider a socialist, please allow me to disagree. Modern capitalism requires banks and banks require state guarantees. What you call "socialism for the rich" is just the way things are meant to work in a capitalist system.
Do you really
believe that or is it what you have been told??
You require(need) food/water to survive ... this is not the case for the banks and government. FIAT requires the scenario you just stated to survive! (my opinion)
You and I need food and water. Banks need state guarantees to survive because the compete against banks that reduces the price of their working capital. The video is about the fiat bailout of the banks which is calls "socialism for the rich." I disagree - that is not how socialism is meant to work.
How is promoting non-competition by bailing out the failures not socialism?
Socialism is an economic system characterised by social ownership of the means of production and co-operative management of the economy.[1] "Social ownership" may refer to cooperative enterprises, common ownership, state ownership, citizen ownership of equity, or any combination of these.[2] There are many varieties of socialism and there is no single definition encapsulating all of them.[3] They differ in the type of social ownership they advocate, the degree to which they rely on markets or planning, how management is to be organised within productive institutions, and the role of the state in constructing socialism.[4]
http://en.wikipedia.org/wiki/Socialism