Outside of the partisans on both sides, most Americans don't care about Scooter Libby and don't know what he did. So the question becomes should you care? And the answer is yes.

Here's what happened in layman's terms:

President Bush said in his 2003 State of the Union address that according to British government Saddam Hussein tried to get uranium for nuclear weapons from Africa. Now that was true. But it was also true that Saddam failed to get the uranium.

A guy named Joseph Wilson who investigated the uranium deal for U.S. intelligence then wrote an article saying that the president over-hyped the Africa story. Subsequently Mr. Wilson allied himself with the anti-Bush left.

Scooter Libby, Vice President Cheney's chief of staff, apparently didn't like what Wilson was doing and told some reporters that his wife, Valerie Plame, worked at the CIA. In some cases, it's crime to out a CIA employee.

On July 14, 2003, columnist Robert Novak, a FOX News contributor as well, wrote about Ms. Plame's CIA job and the investigation began into who leaked the information to Novak and other journalists.

Mr. Libby told a grand jury he did not provide info about Ms. Plame. But today a jury decided that he lied. Thus Scooter Libby was convicted of four felonies — basically obstruction of justice and lying under oath. So that's the deal.

"The Factor" didn't cover Libby very much because I had no idea what happened. Unlike the left-wing press, including elements of The New York Times and NBC News, who convicted Libby even before the trial began, we avoid speculation and try to be fair in our analysis. When we don't know something, we tell you.

Partisans on the right were also at fault. Some of them acquitted Libby before the trial even started.

The entire case reminded me of Ken Starr and Paula Jones. President Clinton got into trouble for failing to tell the truth under oath as you know, just as Libby has. Interesting to see how the left in both cases handled it. Right?

Now all Americans should demand those holding political power tell the truth about everything. The jury says Scooter Libby lied under oath — that's unacceptable.

Talking Points is tried of the partisan nonsense and also tired of powerful people not following the rules the regular folks have to follow.

Scooter Libby has paid a huge price for his deceit. He played the revenge game against Wilson and it all went bad. Which reminds me of an old Chinese proverb: When seeking revenge, bring two shovels.

And that's The Memo.

Most Ridiculous Item

In Denver, FOX 31 cameraman Josh White captured the rescue of Pearl the dog.

Now, she fell through the ice on Lake Sloan located on the west side of Denver, and was in danger of drowning. Now, this guy tried to save her, but he's falling through, too. He finally gets to her. Rescue workers for the Denver fire department were very quick.

And after a few dicey moments, there is Pearl back with her owner. And that is good news. All right? Get that guy up there. Good news is never ridiculous. Pearl the dog OK tonight.

—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