Updated

This is a rush transcript from "America's Election HQ," April 3, 2008. This copy may not be in its final form and may be updated.

BILL HEMMER, CO-HOST: All right. Now to those shocking and abusive comments surfacing tonight online. Liberal radio host Randi Rhodes slamming not only Hillary Clinton, but also former Clinton campaign adviser, Geraldine Ferraro. This language is foul and abusive and on videotape.

Video: Watch the rant and the reaction

(BEGIN VIDEO CLIP)

RANDI RHODES, TALK SHOW HOST: She's like I want (INAUDIBLE) here, I'd just don't want to anti-Semite racist to the white hog, (BEEP), Geraldine Ferraro is. She (BEEP) Hillary, because it is (BEEP) (BEEP).

(END VIDEO CLIP)

HEMMER: In between the beeps, FOX News exclusive, Geraldine Ferraro is here now.

Your reaction to this, this was nasty.

GERALDINE FERRARO, FOX NEWS CONTRIBUTOR: Well, I didn't hear all that stuff, because I'm not quite sure what she said but it's shame that she has to revert to language like that and it's out of control. You know, I don't know what she's reacting to, and I went back to go see what I originally said. I have never even seen the newspaper article. But somebody in the Washington Post said to me, go get a copy of this because it makes sense.

HEMMER: It's brutal.

FERRARO: Well, listen to what I said. I think what America feels about a woman becoming president takes a very secondary place to Obama's campaign, a kind of campaign that would be hard for anyone to run against. For one thing you have the press which has been a uniquely hard on her. It's been a very sexist media. Some just don't like her and the others are caught up in the Obama campaign.

If Obama was a white man, he would not be in this position. And if he was a woman of any color, he would not be on this position. He has to be lucky to be who he is. And the country's caught with him.

What is that to get a reaction like that from?

HEMMER: Well, this is a liberal radio host. She's a Democrat picking on you and Hillary Clinton.

FERRARO: No. But she's picking on something that doesn't make sense. It's just - I can't tell you the hate mail that I have received. I've got many letters that (ph) some woman writes and says, you know, I'm just - I'm stymied and profoundly embarrassed by your Obama comments. That was my Obama comment. You know, what is to be embarrassed about that? It's a statement about his campaign.

HEMMER: Take a step back. What does it suggest to you when -

FERRARO: Unbelievable.

HEMMER: Unbelievable, but what does it suggest to you when things get this ugly?

FERRARO: Well, what it suggested to me was that when the Obama people went out and saw that quote there and took it out of context and ran this thing, they were playing the race card. And I think it's gotten out of control.

And I have to tell you something, to incite people with language like this young woman just did on radio, is very, very dangerous, because there are some people, like this other woman who is stymied and just thinks I'm doing God knows what, I mean, some people take this stuff so seriously that it does (ph) affect your security.

HEMMER: She has been suspended. Is that enough?

FERRARO: And she should be fired. Look what they did to Don Imus when he went after this young black team who were playing basketball with the kind of the same language.

HEMMER: So, she should be fired?

FERRARO: You know, treat them both the same. Racism is no good. It needed a direction. You don't want to see it. But she's coming at me and Hillary in a racist way, too, and in a sexist way. Why not?

HEMMER: Here's some comments you said yesterday in the New York Post, on the screen. "John Edwards must have been shocked to wake up and realize that for the first time in 200 years, being a white man was a disadvantage."

FERRARO: Absolutely. And that was my sense -

HEMMER: Absolutely what?

FERRARO: It was a disadvantage. I mean, being white male -

HEMMER: Maybe Obama is just a better candidate than John Edwards. (INAUDIBLE) were just like him.

FERRARO: It has nothing to do with Obama. See, that's -- if you take it and twist it, that's what's going to happen. It had nothing to do with Obama. I was talking about Hillary and I was talking about Obama, two campaigns. And I'd said this on more than one occasion. I was repeating that to the New York Post reporter.

I'd said I made a joke out of it, and I said poor John Edwards, after 200 odd years he wakes up for mornings running for president and he finds out that being a white man -

HEMMER: I remember what you said, but this is also said "Is he so close in this race," meaning Obama, "because he's the most experienced candidate, the strongest on the issues? Why is there instead of Joe Biden, or Chris Dodd, or Bill Richardson?"

Biden and Dodd and Richardson maybe very qualified politicians but they're not in this race anymore. Obama's wiped them off the floor.

FERRARO: No, how did he get there? How did he get there? How did he wipe them off the floor? How did he do that?

HEMMER: You tell me.

FERRARO: Well, what -- precisely what I said. This is what it is. These are -- all these guys are running and they found themselves at a disadvantage because they're facing two historic firsts: Hillary and Obama.

Two historic firsts and all of a sudden, being white males was a disadvantage.

HEMMER: Yes. You're not shy about invoking race on this though.

FERRARO: I'm not invoking race. I'm just making a statement of fact. I mean, what is the matter with people? I've been talking about historic firsts ever since the 1984 campaign. And I really feel very, very strongly, that these are two campaigns that we should be celebrating, not trying to make it look as if it's sexist versus racism which unfortunately the press (INAUDIBLE).

HEMMER: Good to see you tonight. Best to your grandkids, all right? And you're still wearing your Hillary button.

FERRARO: Absolutely, proudly. And I was never an adviser to the campaign. For both you, OK? I was never an adviser, never a surrogate.

HEMMER: All right. Megyn?

FERRARO: OK, take care.

MEGYN KELLY, CO-HOST: Thanks for being here.

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