Socialized Capitalism (what we have in the U.S.) works very well. In general, it is based on the worst in human nature - greed, selfishness, cynicism, materialism. By socializing it a bit, capitalism is palatable to those who don't have the financial, social, economic, political advantages to succeed. The poor may never rise to the top but as long as they aren't dying in outrageous numbers and aren't homeless in outrageous numbers (in other words most people can at least get by), then things are "fine".
Of course with the bailout, the rich (who always think of themselves as the entitled - because they are powerful)got what they wanted as well - greed with very little risk. This is when Socialism bailed out Capitalism. If it were true Capitalism, everyone at risk should have been allowed to be wiped out. Think of it in the same way a forest fire cleanses the wilderness. But that didn't happen and so things will continue to be shitty.
Of course, because of Socialism, those who would have privitized their Social Security and would have nothing left for retirement can be thankful there is still Social Security.