Bill O'Reilly's Shocking Radio Outburst Stuns Many

SHRILL BILL

In On-Air Tirade, O'Reilly Takes No Prisoners







After watching banks and brokerage houses collapse, threatening the American economy, Bill O'Reilly is hopping mad. Rather than blame one side or the other, however, the FOX News Channel talker is lashing out at just about everyone, including conservative talk radio hosts, Bush and the Democrat-controlled Congress.

In a rant that is already making its way across the Internet, O'Reilly unleashes particular scorn at Democrat Party leaders in Congress who he believes knew what was going on and did nothing about it.

At one point, he calls Bay State embarrassment Barney Frank a "fat toad", while threatening to break any fingers that might be pointed one way or another. If they were in the studio, he says he would have hit them.

Here's the Radio Equalizer-produced transcript, followed by Johnny Dollar's YouTube clip of today's Radio Factor program:

O'REILLY: I do talk radio and most talk radio is conservative dominated, ideologues, Kool-Aid drinking idiots, idiots. Screaming at you, 'this is socialism,' this is this, that is that, 'it's Clinton's fault." It's Clinton's fault? When he hasn't been in office in eight years.

It's Bush's fault, it happened on Bush's watch. You know, Bush could have prevented this.

[...]

Let's get back to this talk radio stuff. These idiots, I mean they're misleading you, they're lying to you, They're rich, these guys. Big cigars, all of that. 'Oh yeah, my private jet' and they're saying, 'oh no, no bailout, ah ah, no way.'

Hey, you're gonna get it! Not them! That foreign investment pulls out, we are toast. And they'll pull out if this bailout doesn't happen. Are you getting the message here? Walk away from these liars, these right wing liars. Walk away from them. They're not looking out for you.

I don't even want to talk about the far left. Barney Frank, DISGUSTING, POINTING FINGERS! It's YOU, you big fat toad! YOU, Frank, YOU, Dodd. Sitting there (mumbled parroting voice) [...] It's YOU, Dodd! YOU, you knew!

I swear to God if they were in this room right now, I would hit them. Dodd and Frank, the House finance, the Senate finance. THEY KNEW, DON'T POINT A FINGER AT ANYBODY ELSE OR I'LL BREAK THAT FINGER OFF.

SO, YOU GOT CORRUPTION ON THE RIGHT AND YOU GOT CORRUPTION ON THE LEFT, and who gets it? YOU GET IT? You, the hard working person. The next politician that gets up there and points a finger, I'm going to go after them myself!

SHUT UP! FIX IT! THESE ARE PEOPLE'S LIVES! I got enough money in the bank, okay?

Unless a bank fails, I'm fine. But you're probably NOT fine. I'm lucky, and I'm tired of these charlatans on both sides lying to you because they're ideological Kool-Aid drinkers or corrupt toads.

And I'm talking to you, Barney Frank. Who's the guy that was 'OH, if you don't lend money to poor people, you're a bigot!' Who was saying that, Barney?

Man, I gotta take a break.

And here's the YouTube clip:





Sure, there's plenty of blame to go around on the political side of the fence, but how are conservative talk hosts misleading the American people? Yes, some of them are against the bailout, but there's no uniform sentiment. A few appear to see it as a necessary evil, while others are adamantly opposed.

If anything, Rush Limbaugh now seems to support what he considers a money-making "rescue" rather than a bailout:

RUSH: The bottom line is that he says the government, if Paulson is able to buy up all these mortgages -- and, by the way, most of them are not into foreclosure yet. Most of them haven't defaulted. If Paulson, if the Treasury is able to buy up for $700 billion, $800 billion all of these mortgages and hold onto 'em and then sell 'em off as the market value is established on them, this guy's model say anywhere from $1.1 to 2.1 trillion could be realized by the government being in the mortgage business, the government as an investment bank.

He says, "My calculations, which assume 50% impairment on subprime loans, suggest it is possible, all in, for this portfolio to generate between $1 trillion and $2.2 trillion -- the greatest trade ever. Every hedge-fund manager will be jealous. Mr. Buffett is buying a small piece of the trade via his Goldman Sachs investment." And, by the way, a lot of people are saying this means we've reached the bottom.

When the smart money gets in, the smart money in this case being Buffett -- by the way, I never have trusted a guy named after a smorgasbord. But nevertheless when they're saying the smart money gets in, Warren Buffett gets in, that means we're near the bottom of the market. And that's one of the reasons why the Dow Jones Industrial Average is up a little bit.

Now, I have some thoughts on this because this piece makes it clear this is not a bailout. It's a rescue. Now, these things still have some value. I don't know what the value is, and they haven't been foreclosed on. They're pretty close to worthless, but it's not technically a bailout. And of course you're hearing all these warnings if we do this then there's not going to be any credit. Okay, now, what does that mean? Well, it could mean something like this. Now, I'm just giving you an extreme example. It could mean that all of our credit cards, outstanding balances are going to be called in, 'cause there's no more credit. If the credit markets have no cash to lend money, and if the assets that they hold are worthless, then there's no credit, and if there's no credit, there's no expansion. If there's no expansion, there's no growth. Now, this is an extreme scenario, but they're using two things to sell this rescue plan. They're using fear of you losing and everybody losing their credit, and the come-on, "Wow, look how much money the government can make here, $2.2 trillion, can you imagine the debt service that we could --" debt service. Remember the peace dividend? What did they do with it? It didn't even exist. They grew the government. This is the kind of money, if Obama is elected, this is the money that will fund all of his brand-new big-time social programs. There's a lot to think about here.

BREAK TRANSCRIPT

RUSH: Okay, here we go. The piece I just read to you, Andy Kessler, I should give you the headline. "The Paulson Plan Will Make Money for Taxpayers." He's a former hedge fund manager, and that's how he analyzes this. He's one of these economists that has commuter models and he's run some projections. Now, if this guy is right -- and who knows? See, we don't know who to trust, and we don't know who's going to end up being right. Our experienced is, "I'm from the government and I'm here to help you," means we're going to get screwed. And we know there's not one single person involved in this I trust with that prediction. There's not a Ronald Reagan here. If a Ronald Reagan was saying, "We gotta do this," I would believe it. There isn't one of those. So you've gotta scrounge around. It's actually a great educational process.

What we can say about O'Reilly's rant is that it was a passionate talk radio moment on a subject that has many feeling more than a bit emotional.

His strongest point is in attacking Frank, who has repeatedly been interviewed by fawning mainstream media outlets without the slightest hint of a tough question. As head of the House Financial Services Committee, the Massachusetts Democrat certainly deserves a large share of the blame for his lack of oversight while the financial system was melting down.


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