This is a rush transcript from "Hannity," April 15, 2011. This copy may not be in its final form and may be updated.

SEAN HANNITY, HOST: Tonight is part two of my interview with potential 2012 presidential candidate Donald Trump who has been making headlines for the controversial rebukes that he has issued President Obama.

And that's where we begin tonight. Let's take a look.

(BEGIN VIDEO CLIP)

HANNITY: A lot has been made over the birth certificate issue. And you apparently, you have said in the previous interviews that you have a team of investigators in Hawaii now looking into it.

DONALD TRUMP, BUSINESSMAN: Correct.

HANNITY: It has a lot of press. Everyone is asking you about it.

TRUMP: Right.

HANNITY: And what have you come up with your investigators?

TRUMP: Well, I don't want to say that now. But it is going to be very interesting. But I don't want to say it now, Sean. But I will say this, I don't love this issue. I'd much rather be talking about how China is ripping us off, how OPEC is -- that's what I'm really good at. I understand it. I can do such a great job.

But, this issue came up about six weeks ago. And I've heard about it for years. But I never thought too much about it. And I assumed he was born in this country. But six weeks ago, I started really looking into it. He's got a certificate of live birth. That's by the way, despite what certain liberal press says, that's not a birth certificate. It is a big, big step lower. In fact, in some places, you can get married or get a driver's license with a certificate of live birth, OK? So, I say to myself, why.

HANNITY: Only has a stamp, no signature.

TRUMP: It's got a stamp. It's got a stamp. No, it's got a stamped signature. By the way, I have my birth certificate. I think I'll show it. I think I'm going to bring it down to Boca Raton this weekend. But I have my, it's got stamps, it's got three different signatures, it's got everything, everything is official. You have to see this thing. It's like a certificate of live birth is not appropriate.

Now, I say to myself, why? A few -- just simple questions, why doesn't he show his birth certificate, number one. You know, they say it is sealed. Well, but for the person, you could release it. And if it's the person, you could -- sure, it's sealed, it should be sealed, that's great.

But the person, you know, I actually sent to New York for my birth certificate. And they actually got on the phone, they said Mr. Trump, I'm sorry to do this sir, you have to give me your Social Security number. You have to prove, it's really you I'm talking to. I went through a whole big thing. OK, but when they figured out it was actually me, they sent it to me. I had to pay $38, and they sent me my birth certificate. They could do the same thing to him, and I say, why did he spent millions of dollars on trying to stay away from this issue? Why doesn't he give his birth certificate?

HANNITY: The one thing on his side is that they have these announcements in the newspaper, eight days after.

TRUMP: Eight days later.

HANNITY: Yes.

TRUMP: It was eight days. Look, he's got a grandmother in Kenya who said he was born in Kenya at the hospital. Then there was bedlam in the room, bedlam. I don't mean like a little, you know, because he was close to becoming president. And there were a lot of people in that room, and he was being, she was talking to a reporter with a lot of handlers. A lot of Obama handlers. So, they had the grandmother, she said Kenya. Then all of a sudden, 51 seconds later, he asked the question again. And you hear people scream, no, no Hawaii, Hawaii! OK? Give me a break. Now, the other one was eight or nine days later from the reported birth date. But you don't know if it was even the reported. But they could have easily come from Kenya or someplace.

HANNITY: The issue would go away in a minute. Just show the certificate.

TRUMP: I don't understand. Why he doesn't show? Why did he spend millions of dollars on trying to stay away from the issue? Now, it's one of two things. Either, he wasn't born in the country, or he doesn't have a birth certificate that, or there is something on the birth certificate that he doesn't want people to see.

HANNITY: What do you think that could be? Could it have to do with religion?

TRUMP: I don't know. I mean, maybe it says he's Muslim. Which wouldn't bother me. I mean, if it is that thing, you know, if it's that's it, it's it. It's what it is.

HANNITY: He went to a Muslim school in Indonesia. He talks about studying the Koran. He talks about one of the most beautiful moments being, you know, prayer times at sunset.

TRUMP: Look, he was born Barry Soetero, somewhere along the line, he changed his name. I heard he had terrible marks and he ends up in Harvard. He wrote a book that was better than Ernest Hemingway, but the second book was written by an average person. He shouldn't have written the second book.

HANNITY: You suspect Bill Ayers.

TRUMP: I said, Bill Ayers wrote the book, the first book.

HANNITY: Why do you think it's Bill Ayers?

TRUMP: Because everyone says he's a super genius and he was a great writer. And Bill Ayers just came out recently, because he's not in love with Obama, because like Obama dropped Reverend Wright like a dog, he dropped him like a dog. You know, for 20 years, he's in Reverend Wright's congregation, OK. I'm Protestant and I understand. He's in Reverend Wright's congregation for 20 years listening to Reverend Wright's spew hate against white people. And all of a sudden, he drops him like a dog. And Reverend Wright doesn't -- hates him now, actually hates him from what I hear.

HANNITY: Well, he said --

TRUMP: But the same thing with Bill Ayers. The same thing with Bill Ayers, he dropped -- he was best friends with Bill Ayers. Bill Ayers was a super genius. And a lot of people have said he wrote the book. While recently, as you know last week, Bill Ayers came out and said he did write the book.

Barack Obama wouldn't be president, and, you know, I wrote many best sellers. And also, number one bestsellers including "The Art of the Deal." I know something about writing. And I want to tell you, the guy that wrote the first book didn't write the second book. Obama made a big mistake when he wrote the second book. Because the second book was not Ernest Hemingway, it was about 37 classes below. The first book is Ernest Hemingway plus. The second book was written by somebody that was much more average. How do you have average marks -- how do you have bad marks and get into Harvard?

HANNITY: Let me go back to the issue. Because I want to talk about media coverage of Obama. Because you are going to have full coverage of your finances, every woman that you've dated, your marriages, all that is going to come up, fair game?

TRUMP: Well, I think it is fair. But I also think this. My finances are great. I think when you get into social things, I just think this country has big problems. And I sit down and I look at the problems of this country and I just think that we have more important things to discuss with like.

HANNITY: Than who you dated.

TRUMP: .Yes, than who I dated or who, and, you know, what? I have unbelievable great relationships with a lot of people and I have a great relationship with my wife. But, we really -- that's the problem with this process. In China, they pick the meanest, toughest, smartest guy. Ruthless. And he's our negotiator.

In this country we pick a guy that has never had a problem. Never done anything, I mean, look at Obama. Obama had bad marks and he gets into Harvard, OK? He wasn't a good student. Everyone thinks he was like the super genius, he wasn't a genius. He had bad marks. And it is a big story. Everyone says, how did he get into Harvard? How did he get into Columbia? He had horrible marks supposedly.

(CROSSTALK)

He doesn't release his marks. Nobody knows what his marks. But everybody said, because there was some released where his marks were lousy, and yet he gets into Harvard.