This is a rush transcript from "The O'Reilly Factor," May 21, 2008. This copy may not be in its final form and may be updated.

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LAURA INGRAHAM, GUEST HOST: In the "Miller Time" segment tonight: lots of political combat to get to: Obama vs. Clinton, Obama vs. Ferraro, and Hollywood vs. the Clintons. Syndicated radio star Dennis Miller joins us now from Los Angeles.

Dennis, great to see you.

DENNIS MILLER, FOX NEWS CONTRIBUTOR: Hi, Laura. Nice to be on with you. I just looked in the monitor and noticed I over-dyed my beard today. I apologize to all the viewers. I look like Billy Mays, that guy who's always hawking the garden weasel on the infomercial.

INGRAHAM: Yes, the Just for Men. You really need to get back into that box. That's all I can say.

What's going on with Hollywood? I mean, they had all these lovely sleepovers at the old Motel Six at 1600 Pennsylvania Avenue and all the love fest dinners in Hollywood for the Clintons, and now it's like they can't get their calls returned.

MILLER: Well, I'll tell you, the earliest guy in on this, when I knew there was serious trouble, was around a year ago when Geffen got off the train. David Geffen is the smartest guy in Hollywood. And the train was barely out of the station. He didn't even have to shoulder roll. He just stepped off lightly, and I knew there was trouble afoot.

The Clintons are now a sequel. The Clintons are "Narnia." We've seen the talking lion. "Iron Man" is Barack. And that's what's happened there. They want to go where the heat is, and the Clintons are no longer hot.

INGRAHAM: I liked "Prince Caspian," but that having been said, the problem here is that we have a split-off though in Hollywood, right? I mean, Streisand and you have Geffen. You have Katzenberg and Spielberg, and a number of individuals coming out for Hillary early. And then, as you said, Geffen and a few others. And then it started to just pour in. So I think the Clintons at that point were saying, "Well, I need to buy a vowel. What do we do?"

MILLER: The rest of them are all minor players. I'm telling you, literally, David Geffen — and anybody in this town knows it — is the smartest guy in this town. He dwells in the ether. He sees the overview. When he got off, I remember thinking this is going to start an amazing domino chain. Because it's not McCarthyism out here. It's Andrew McCarthyism. When it's over, it's over.

INGRAHAM: And Dennis, the other story I have to get your take on is the sexism charge that Hillary and Ferraro are making. Hillary was describing her struggle — I believe it was earlier today or yesterday — like the struggle of oppressed women around the world and the Middle East and "I'm with them, and I'm enduring this." What do you make of this?

MILLER: First off, I think Geraldine Ferraro and Eleanor Clift have to get a small business loan and get their hair together. Because there's no reason a woman has to — there's no reason a woman has to look like David McCallum from "Man from U.N.C.L.E."

INGRAHAM: Brutal. I disassociate myself from hair comments, given my hair problems.

MILLER: Well, listen, it wasn't a sexist thing. It was an inept campaign by Hillary. Ironically, when she threw her hat into the ring, she threw like a girl. I know she was making a nice run for the Oval Office. She thought it would be over in the first trimester. And she had no Plan B cup. But to say men are sexist, out of bounds.

INGRAHAM: But it's a threat level blue pant suit alert this evening, Dennis. So you should be aware of that. So when the blue comes out, you're in trouble.

MILLER: You know what she reminds — she reminds me of, Laurie, in that scene in "Cool Hand Luke," where George Kennedy and Paul Newman are fighting outside the compound. And Hillary Clinton is like Paul Newman, you know, and George Kennedy is just, you know, whamming on her saying, "Please, stay down, stay down," but she won't do it. And I've figured out the reason. I think if this doesn't work out for her, she wants to become a Secret Service agent for Barack Obama.

She obviously digs life in the bubble. She likes being around that whole scene. And as we've seen from her and her husband, she'll take one for the big guy. You know, she's very discrete. I think she'd make an ideal Secret Service agent.

INGRAHAM: Dennis, you're actually saying that the Clintons want Barack Obama to win this? I mean, are you actually — you have a lot of faith in the Clintons. Unity of the party, huh?

MILLER: It was a joke.

INGRAHAM: I know, I know. I'm just teasing.

MILLER: They want nothing less. But I'll tell you what. If he does take it this time around, she's already onto the next page. She'll be plotting for 2012. This woman, it's like, you know, petitioning to host the Olympics for her. The day it's over, one day, it's onto the next thing.

INGRAHAM: Someone in the Washington Post today, Dennis, a columnist said maybe the right thing to do for Barack Obama if she wins is to put her on the Supreme Court, basically shelf her over there so she doesn't come back in 2012. And I'm thinking that ruffle thing that Sandra Day O'Connor used to do, that ain't going to look good on Hillary. That ruffle thing is not going to work.

MILLER: Well, I'm thinking that McCain might pick Hillary as his running mate. Maybe screw up the whole campaign.

INGRAHAM: Why not? Shocked at that, yes.

MILLER: Yes, because she can deliver the Granny Clampett demographic.

INGRAHAM: Oh man, you're...

MILLER: She has proven that time and time again.

INGRAHAM: This is brutal. I am going to get the e-mail tonight on this, Dennis. But Dennis, it's always so great to see you. Thanks for joining us.

MILLER: Thanks for having me.

INGRAHAM: Absolutely.

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