To watch "The Talking Points Memo" in the Screening Room click here.

Hi, I'm Bill O'Reilly reporting this evening from The Factor's Southern Command Center, Miami, Florida.  Thank you for watching us. 

Did American bombs kill Saddam Hussein?  And where does the war stand now?  That is the subject of this evening's Talking Points Memo.  I definitely could be wrong, but I believe Saddam and his sons are dead, that American bombs killed them. 

But even if these homicidal maniacs survived, they have lost their power.  Coalition forces have won the war, but the conflict remains, and the danger is still high.  

However, we can now report with accuracy what the coalition victory means.  One, the prestigious of the USA and the United Kingdom has risen dramatically throughout the world as terrorist enablers have seen the destruction that can be reaped upon them. 

Two, this has been an historical lesson for Americans who have paid attention.  We live in a dangerous world, and people should know the risks dictators like Saddam pose to his own people and the world. 

Three, the morale of the U.S. Armed Forces is through the roof, as the American military have performed bravely and humanely.  Expect more Americans to enlist in the military, as it is a noble enterprise.

Four, after 9-11, American cans now be proud that their country is aggressively dealing with terrorists on all levels. 

Five, the conflict has exposed good guys and bad guys in the press.  That, of course, depends on your point of view, but clear thinking Americans know who provided the accurate coverage and who was flat-out wrong about the war. 

Six, there's been a change in the way Americans view television news.  The 24-hour cable [news] services are now the primary source of information for most Americans. 

And last on the list, the coalition victory in Iraq sends a message to the world that powerful nations expect civilized behavior, international law must be upheld, and terrorism will not be taken lightly anymore. 

And that's The Memo.

The Most Ridiculous Item of the Day

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

The publication Television Week is out with its annual list of the 10 most powerful people in television news, and your humble correspondent is number two.  I demand a recount.

The one guy more powerful than I allegedly am is NBC News President Neal Shapiro, who I knew very well, and he is, indeed, a powerful and frightening guy.

The only other personality on the list is NBC's Tim Russert, who is also very powerful and frightening.

I am frightened of both of those men, which may be ridiculous.

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