Yes you have it right.
Unfortunately most people are "useful idiots" to the ruling class and they don't realize that banker's capitalism is the ultimate form of wealth re-distribution to people who don't work hard(the bankers and overclass)
"Socialism for the rich, capitalism for everyone else" refers to the tendency for the overclass to "capitalize" on profits and "socialize" losses among the masses via taxes and bailouts WITH YOUR MONEY. It also refers to several banking practices that have evolved over hundreds of years that have been so driven into public education that people are conditioned not to question it.
It is a crime against humanity that makes the profit based system knows as banker's capitalism a leach to the world.
edit: Judging by the answers you have been getting, it would appear they think the current way of running things is the only way(a monetary system with a global overclass stealing and claiming hegemony over all of the earth's resources).
It's a system of consumption and debt that 'capitalizes' on the negative aspects of human behavior. Capitalism often takes that which should be free and sells it back to you at a premium. It dumbs down society, instills greed and hostility, and demoralizes the human spirit.