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Tonight, we wrap up a week here in L.A. getting out of town just before the Academy Award weekend. By the way, here are my picks. "The Departed," Martin Scorsese, Forest Whitaker, Helen Mirren, Alan Arkin, and Jennifer Hudson.

But there's little buzz here about the Oscars largely because there aren't any big movies. The film industry largely markets to kids. And how many people do you know who have seen "Babel"?

However, the cultural impact of Hollywood is actually increasing. Saw it this week in the Obama vs. Hillary shootout. I mean, let's be honest here. The entertainment industry has made Obama.

First, Oprah gave him the thumbs up. And this week, Hollywood gave him more than a million dollars! So Barack Obama has become a major political player largely because of our celebrity culture.

You want more proof? Congressman Tom Tancredo (R-Colo.) wants to be president. How many celebrities are helping him?

The truth is that popular culture is becoming more and more important to those who seek power in the USA. And "Talking Points" believes there's danger here.

Senator Obama may never have to answer serious questions from the press. As I said earlier this week, his handlers are instituting the "Elvis strategy." They are marketing an attractive image.

If Obama's poll numbers continue to rise, his handlers will keep him away from the press. Remember, Hillary Clinton rarely answered any specific questions in her first New York Senate campaign. She didn't have to answer questions. Her liberal image was enough to win in a liberal state.

So don't discount popular culture in the upcoming presidential race. It will be a major factor. And we will be watching it closely.

And that's "The Memo."

Most Ridiculous Item

One of our mandates here at the “The Factor” is to keep a close eye on our pals over at "The View". We do that because we don't want to miss things like this:

(BEGIN VIDEO CLIP)

ROSIE O'DONNELL, CO-HOST, ABC'S "THE VIEW": You know.

JOY BEHAR, CO-HOST, ABC'S "THE VIEW": She needs to go wherever Obama bin Laden is hiding. Because...

BARBARA WALTERS, CO-HOST, ABC'S "THE VIEW": Obama bin Laden?

BEHAR: What's his name?

O'DONNELL: Osama bin Laden.

ELISABETH HASSELBECK, HOST, "THE VIEW": Obama is running for president.

O'DONNELL: We would like to apologize to all of the Obamas in America who felt offended by Joy's slip of the tongue.

BEHAR: Osama bin Laden, who we cannot find, wherever he is, that's where to go. That was my point.

(END VIDEO CLIP)

Ridiculous? You decide.

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

Bill O'Reilly currently serves as the host of FOX News Channel's (FNC) The O'Reilly Factor (weekdays 8PM/ET), the most watched cable news show for the past 13 years. He joined the network in 1996 and is based in New York. Click here for more information on Bill O'Reilly