To watch "The Memo" click here.

Hi, I'm Bill O'Reilly. Thank you for watching us tonight.

The cable network VH1 disgraces itself and insults all Americans. That is the subject of this evening's Talking Points Memo .

And you may want to grab a pen and paper.

First, the facts. In 1995, 18-year-old Christopher Bissey, a dope dealer, shot and killed 15-year-old Mary Orlando and 17-year-old Jennifer Grider near Lehigh University in Pennsylvania. A jury found him guilty, and 11 members voted for the death penalty, but one did not. Thus Bissey was sentenced to life in prison without parole.

He is serving his time at the Graterford Penitentiary, where the warden, Donald Vaughn (ph), has allowed him to sing in a rock band called Dark Mischief.

Enter VH1.  As part of its Music Behind Bars series, it is featuring Bissey and his band this Friday, thereby giving this killer national exposure and glorifying him as a rock performer.

Of course, the families of the slain girls are brokenhearted and angry. Just imagine if it were your child murdered, and you knew the killer was starring on VH1.

The Factor has brought this to the network's attention.  It does not care. The warden of the prison does not care.

So what say you, Pennsylvania Governor Mark Schweiker, who, by the way, lives in Harrisburg, in case you want to give him a call?

Couple of footnotes. Talking Points is not certain the sponsors of this program know about the Bissey situation, and we are not sure what VH1's parent company, Viacom, knows as well. So at this juncture, we are not criticizing them. We simply want to be fair.

But we are laying this entire mess at the doorstep of VH1 president Christina Norman, who should be ashamed and hand in her resignation immediately. In case you don't know, Miss Norman, a killer is someone that does not deserve any consideration or attention. Somebody that takes a human life should not be used by your network to make money or receive adulation.

Are you that morally bankrupt, Ms. Norman? Of course, Christina Norman would never answer any questions, as she is hiding under her desk right now. But she can't really hide. Her e-mail address is CHRISTINA.NORMAN@VH1STAFF.COM .

This situation makes the Ludacris-Pepsi controversy look like an episode of Sesame Street. Again, just imagine the pain of the Orlando and Grider families as VH1 presents a concert starring the man that killed their daughters.

What a disgrace. If that program airs on Friday night, that network will never, ever be forgiven by Talking Points. And I hope you feel the same way.

And that's The Memo.

The Most Ridiculous Item of the Day

Time now for the "Most Ridiculous Item of the Day."

The stock market continues to bounce around like Anna Nicole Smith, and, like that incredibly crass woman, it is not worth following.

Right now, the speculators are in charge, and the investors are sitting it out. If you have big losses -- and almost every working American with a 401(k) does -- just sit on it. The market will stabilize and go up again, but never again like the go-go '90s.

If you bail out now, you'll never recover your money. If you wait patiently, you'll get some of it back. Remember, patience is only ridiculous when you can make something happen. In the case of stock market, we can't. Not even Cavuto can.

— You can watch Bill O'Reilly's Talking Points and "Most Ridiculous Item" weeknights at 8 & 11p.m. ET on the Fox News Channel. Send your comments to: oreilly@foxnews.com