Fed's socialized risk program for Isreal

On Wednesday, Fannie Mae told the federal reserve that they lost money in the fourth quarter, and they need 4.6 billion dollars in aid. I have had this itching question since 2008 about these bailouts. When did the American government become a socialized risk program for the rich? We have developed a casino style economy on Wallstreet, and these supposedly brilliant investment bankers keep coming back to the federal reserve with tails between their legs. I am under the impression that Wallstreet is filled with gambling addicts, and the federal reserve funds their uncontrollable gambling habits. If the reader had a relative with a known gambling addiction, would the family repeatedly loan money? If we keep giving these bankers money for poor decisions, they will not stop and continue digging our economic graves. I find this aid proposal and bailouts disheartening considering Greece's situation; I think it would be more prudent to give Greece the 4.6 billion dollars in aid.

America's socialized risk program expands to Israel today.  The Bank of Israel announced it will begin a pilot program to invest its U.S. currency for U.S. equity:

"The investment, which in the initial phase will amount to 2 percent of the $77 billion reserves, or about $1.5 billion, will be made through UBS AG and BlackRock Inc. (BLK), Bank of Israel spokesman Yossi Saadon said in a telephone interview today. At a later stage, the investment is expected to increase to 10 percent of the reserves." 

So, what happens if Israel makes a bad investment like Fannie Mae? Well, we have already repeatedly seen the Federal Reserve response to poor investing; they print more money for rich investors, so we will now cover any risk Isreal makes on U.S. equities. If Isreal's pilot program works, we could see many other foreign central banks making the same investments on U.S. equities, so the United States will be covering risks of many foreign countries in future bailouts; however, there may be a silver lining for America if foreign central banks follow Isreal.With the weakening petrodollar, foreign banks are slowly removing USD from their reserve, but if they begin these kind of programs, they may have new interest for the USD in their reserves. The United States could replace the Petrodollar with the Gambledollar.