The Factor Rundown
The Obama Chronicles Segment
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Your right to be angry about the economy
"Capitalism is the best economic system in the world. But like everything else in life, capitalism can be perverted and exploited. That's why the federal government oversees the American economy - to make sure there is some justice and honesty in the pursuit of profit. But once again, the feds have let us down. The Securities and Exchange Commission and its head Chris Cox issued no warning about the bad lending practices that have caused the U.S. economy to wilt. The Department of Energy is supposed to make sure the oil companies don't gouge, but Secretary Samuel Bodman has done nothing. Talking Points is fed up with all the bull. Allowing major corporations to traffic in bad loans, standing by while oil companies price a vital commodity based on speculation, watching the nation's air system collapse, and failing to control illegal immigration is unacceptable. The next president has one big mess to clean up, and it starts with appointing tough-minded watchdogs, not lazy lapdogs, to run federal agencies. It's obvious the feds are not looking out for us. That must change."
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The tanking economy and political gain
Political strategist Dick Morris joined The Factor with his assessment of the financial mess. "The Wall Street houses and the insurances companies," Morris stated, "didn't give these mortgages. The ones who gave the mortgages caused this mess. Nobody should be allowed to do a mortgage without 20% down and every mortgage should require income statements. The lenders broke the law by giving money to people who they knew would not be able to repay." Morris went on to predict that Barack Obama will benefit from the current chaos. "People are blaming the Bush administration, and it deserves that blame. Obama is going to get a bump because of the bad economy and will have a good-sized lead going into the debates."
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Dow Jones drops another 450 points
After another bad day on Wall Street, The Factor welcomed Fox Business Network anchors Cheryl Casone and Alexis Glick. "I am fit to be tied," Glick declared. "There are so many people who are responsible for what is going on. Where was the SEC, where was the Federal Reserve, where was Treasury, and what was happening in Congress? This is a wake-up call to everyone at home - you have to spread out your money and diversify. But I would not buy now, the market is going lower." Casone predicted more turmoil, but advised prudent investors to look for bargains. "There's blood on Wall Street and on Main Street, but this is an opportunity. There are tremendous opportunities out there and this is a time to buy." The Factor singled out Massachusetts Congressman Barney Frank for his role in the mortgage meltdown. "Barney Frank is head of the Banking Committee, and all he wanted to do was push mortgages to low-income people who couldn't buy a house. That's what he used his powerful position to do, and then the folks couldn't pay it back."
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Hackers post Palin's emails online
Malevolent hackers hijacked Governor Sarah Palin's Yahoo password and posted her private emails on line. Columnist Amanda Carpenter elaborated on the story. "What we've seen is personal e-mail," Carpenter reported. "It's her talking with staffers and a friend, but nothing that is politically damaging at this point. It is against the law to access someone's personal e mail account, and the person who broke into the account can face up to a year in prison." The Factor expressed unbridled disgust with the invasion of privacy. "The web site that posted this is one of those despicable, slimy sites. I'd like to see the web site and the hacker prosecuted. I'm going to call the Attorney General and the FBI and we'll have a report on this tomorrow."
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Obama Chronicles 3: Obama's mentors
After being abandoned by his father, Barack Obama turned to three male mentors in his childhood and early career - Hawaiian activist Frank Marshall Davis, Illinois politician Emil Jones, and the now notorious Rev. Jeremiah Wright. David Freddoso, author of "The Case Against Barack Obama," spoke about these influences, beginning with Frank Marshall Davis. "Davis was a member of the Communist Party," Freddoso reported, "who had come to Hawaii decades before Obama was born. A couple of times in his life Obama looked to him as a father figure and went to him for advice. Davis advised Obama not to become a 'race traitor' when he went off to college." Freddoso moved to Emil Jones, President of the Illinois Senate. "Jones helped Obama by giving him credibility. He made Obama the chairman of the health committee, which helped him win the Democratic primary for the U.S. Senate." Finally, Freddoso commented on Rev. Wright. "Wright appears to have been a great influence in Obama's life - one observer said if you want to know Barack Obama you have to know Reverend Wright."
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Dennis Miller on Sarah Palin
Dennis Miller began by offering some unsolicited advice to Governor Sarah Palin: "First, she should never again repeat a line from her big nomination speech. Secondly, I think she can get into Joe Biden's kitchen - during the debate, when he wheels out one of his tired Joe Biden canards, she should say 'Joe, you can put lipstick on that pig but it's still a pig.' People won't believe she has that kind of moxie." Miller also watched clips from "The View," where the women fawned over Barack Obama and confronted John McCain. "I don't know why John McCain would go on there - 'The View' makes the New York Times look like the paper of record. But the difference in the way they approach the two people may work for McCain."
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Hannity interviews Sarah Palin
After airing a portion of Governor Sarah Palin's interview with FNC's Sean Hannity, The Factor asked communications expert Patti Wood to delineate Palin's strengths and weaknesses. "She needs to shorten her answers," Wood asserted, "and her gestures are too expansive. Her voice tends to be sometimes to strong and too loud. On the positive side, she has a great smile and has credibility and warmth. She also does well with her overall appearance, and thank God she took the 'teacher bun' down. Her look needs to be modernized." The Factor disagreed with that final notion. "I'd keep that look because it makes her look like one of the folks."
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Derek Jeter & Janeane Garofalo
Wednesday's Patriot: New York Yankee shortstop Derek Jeter, who broke Lou Gehrig's team record for the most hits at Yankee Stadium. And the Pinhead: Former comic Janeane Garofalo, who said Republicans stand for "torture and homophobia" and should all be jailed. Nominate a Pinhead or a Patriot by sending an email to pnp@billoreilly.com.
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Viewers sound off
Robyn Bartlett, Canton, GA: "Bill, Neil Cavuto is right about the oil companies. Your analysis of them is unfair."
Cmdr. Bill Dixon, Dallas, TX: "Bill, you are right and Neil Cavuto is wrong. The oil companies exploit every opportunity to keep prices high."
Angela Bell, Houston, TX: "After watching the segment on Michelle Obama, I am disgusted. She is an accomplished woman. Your description of her as an angry woman, O'Reilly, is just a bubba ploy to scare voters."
Dixie Blankley, Shelby, MS: "Michelle Obama - no spin! You should be ashamed of your puff piece on this mean-spirited woman."
Diane Litchford, Delmar, DE: "Bill, you look like a little angel on the cover of your new book. What happened?"
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