This is a rush transcript from "Hannity & Colmes," August 26, 2008. This copy may not be in its final form and may be updated.

ALAN COLMES, CO-HOST: Now our first guest is saying that concern about Hillary supporters will be laid to rest after her speech and also mentioned that he has some worries regarding Barack Obama.

Here's what Pennsylvania governor Ed Rendell told the Washington Post.

Quote, "With people who have a lot of gifts, it's hard for people to identify with them. Barack Obama is handsome. He's incredibly bright. He's incredibly well spoken, and he's incredibly successful. Not exactly the easiest guy in the world to identify with.

He's a little like Adlai Stevenson. You ask him a question, and he gives you a six-minute answer and the six-minute answer is smart as all get out. It's intellectual. It's well framed. It takes care of all the contingencies. But it's a lousy soundbite."

Here with reaction, Pennsylvania governor Ed Rendell.

Governor Rendell, welcome to this special "Hannity & Colmes".

ED RENDELL (D), PENNSYLVANIA GOVERNOR: Hi, Alan. How are you?

Video: Watch Sean and Alan's interview with Governor Ed Rendell

COLMES: Good, sir. You're down on the floor. Let me ask you — was that a proper quote? Is that the way you meant it? You want to amend anything in terms of what we just delivered that you said earlier?

RENDELL: No, not really, Alan.

Look, Adlai Stevenson, in my judgment, was the greatest Democrat in my lifetime. He would have made a terrific president. He had the misfortune of running against Dwight Eisenhower.

I think Barack Obama could also be a great president, because he is smart, because he doesn't give easy answers, because he doesn't pander, because he thinks things through. He has a vision for this country.

That doesn't necessarily translate on the campaign trail, but he's going to be a great president. It's our job to go out there and help him get elected.

COLMES: But you know the headline today is Ed Rendell compares Barack Obama to Adlai Stevenson. And that's really not the whole story and they're going to take that out of context and make it seem as though you compared him to a losing candidate.

RENDELL: Well, you know what? I don't think, Alan, the American people are dying to hear what I say about this, so I don't think I'll influence three votes, but if anybody out there loved Adlai Stevenson as much as I do, work your heart out for Barack Obama, because he's going to be a great American president as Adlai Stevenson would have been.

COLMES: And one other thing you've said is, you've — said that Barack hasn't hit back — punched back, I think, is the phrase you used — hard enough.

RENDELL: That will start on Thursday.

COLMES: What does he need to do? He's got to punch back on Bill Ayers. He just put out an ad in response to a McCain 527 ad. What else does he need to say to punch back properly?

RENDELL: Well, he has to do it himself, and I think he will do it on Thursday. Let's take a subject like energy independence, renewable energy.

John McCain is a fraud. He talks about renewable energy now, but he's voted against extending the renewable energy tax credit two times. He's voted against subsidies for renewable energy companies. He's voted against a national standard to create a mandate, a market, for renewable energy.

We've got to point that out to the American people, and, of course, our best messenger is Barack himself, and I believe he will begin doing that on Thursday. I can't wait.

SEAN HANNITY, CO-HOST: Hey, Governor, hey, Governor, it's Sean Hannity. And.

RENDELL: Hi, Sean.

HANNITY: First of all, he's not a fraud. But when he.

RENDELL: He's a fraud.

HANNITY: No, no, Governor, when you have one position when gas is $1.50 a gallon, and another position when it's $4.50, when we have a $700 billion transfer of wealth, there's a big difference, Governor, and if we don't drill.

RENDELL: But, Sean.

HANNITY: . Barack Obama says it's going to be $12 a gallon.

RENDELL: But, Sean, explain to me then why John McCain wouldn't endorse the bipartisan plan for offshore drilling. He wouldn't endorse it because it included cutting out subsidies to big oil.

HANNITY: All right, based on — all right.

RENDELL: He's in the pocket of big oil.

HANNITY: Oh that's silly. Well, then based on your standards then Barack Obama's a fraud because he said he supports public financing, now he's against it. He said Iran's not a serious threat. Now Iran's a grave threat. He'd meet with rogue dictators, now he won't.

So is Barack Obama, based on your standard, a fraud?

RENDELL: No, because he hasn't put commercials up saying I'm going to.

HANNITY: Oh, the commercials.

RENDELL: . build renewable energy. He hasn't put — he hasn't staked this campaign on it. He's going to build a renewable energy economy.

HANNITY: All right. Let me ask you an important question.

RENDELL: John McCain never believed in renewable energy. And he doesn't really believe it.

HANNITY: No, he does because the price of gasoline is $4.50 a gallon. But let me ask you this. You said, ladies and gentlemen, the coverage of Barack Obama has been embarrassing, and this is a point that I've been making that in many, many ways, I think journalism has failed the American people in this campaign.

If the media did their job, if the media vetted Barack Obama on issues like Wright and Ayers and Rezko and all these other issues where Barack barely crossed the finish line, would this be Hillary Clinton's convention tonight?

RENDELL: Sean, I think it's hard to go back and say that. I think Barack Obama had some momentum, and it may have been that it was just unstoppable, but it's hard to answer that.

But, look, the media can make you, and then it turns, and it can break you. And I think the media has been tough on Obama in the last four, five, six weeks.

HANNITY: Well, then, what did you mean when you said it was embarrassing?

RENDELL: I've said the coverage of the primary. Certain media outlets were openly partisan, had really brought into Barack Obama as a savior. He's not a savior.

HANNITY: What.

RENDELL: He's an awfully smart, good guy who's going to be a great president.

HANNITY: All right so — so what — so what networks were fair and what networks were very biased?

RENDELL: Shockingly, during the primaries.

HANNITY: Shockingly?

RENDELL: . the most fair and balanced — I'm going to get killed for this — the most fair and balanced network coverage was FOX. I said that, and I wound up as the worst person in the world. But you guys were.

HANNITY: Listen, Governor Rendell, we love you. And when I'm.

RENDELL: Thanks, Sean.

HANNITY: When I'm back in Philly, Pat's, Geno's, and it's on you. So good to see you.

RENDELL: And you know what? I've got a donkey tie for you, Sean?

HANNITY: I got — an elephant tie for you, so good to see you.

RENDELL: Good taste.

HANNITY: Thanks for being with us.

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