Reports from the publishing industry say that an upcoming book by Ed Klein (search) will damage Senator Clinton. The reports say the publishing house, Penguin, is nervous and some editors there are angry about the book. Now that's interesting because Penguin published Stuart Smalley's book which is off the chart dishonest, but that defamation was directed against conservatives so we didn't hear any angst from Penguin. But now that a liberal is the target, there is angst galore.

If Mr. Klein's book, which will be released next fall, is well sourced, that is, if there are names attached to the allegations and the statements in the book are verifiable, then "Talking Points" will analyze what's being put out there. But if anonymous sources rule the day, then we won't consider the book. That's what we did with Kitty Kelley's book on the Bush family. Too much of that was not sourced. Anyone can print allegations from unnamed people or even allegations from one person. That is cheap and easy, but it isn't fair. So we did not interview Miss Kelley because even if I challenged her, the charges would be broadcast to millions. Again, not fair.

Now, there is no question that Hillary Clinton (search) is running for president: She is making speeches and raising money, so she is fair game for legitimate criticism. But defamation is not legitimate and I will protect Mrs. Clinton from unfounded charges and I will challenge any defamation directed at any political candidate, no matter what their ideology. America doesn't need slash and burn politics. We don't need loony ideologues spreading vicious rumors and unsubstantiated charges. That hurts the country, and those people should be scorned, not celebrated.

The smearing on both sides is out of control and promises to reach new lows if Hillary Clinton gains traction in her campaign. Let's face it, Senator Clinton's politics are controversial enough. She has much explaining to do about the issues, so let's concentrate on those. Ripping the woman to shreds is wrong, and may even help her. The majority of Americans are fair-minded and reject the politics of hate. Bash the woman enough and she will get the sympathy vote.

So let's wait and see what Mr. Klein's book contains and whether or not it is worth attention. And maybe Penguin Publishing might want to take a second look at its entire philosophy.

Remember, blood money is just that.

And that's The Memo.

The Most Ridiculous Item of the Day

Our pal Andy Rooney (search) making news again. Rooney was called to testify against an agent named Alan Walker, on trial for defrauding some celebrities. When Rooney took the stand, he was sworn in with the words, "So help me God."

Well, Rooney replied, "I don't know about God."

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