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Talking Points

Bill O'Reilly: Real Reason 'Occupy Wall Street' Protest Is Taking Place

By Bill O'Reilly

Early Tuesday morning, about 100 people were arrested in Boston, members of the so-called "Occupy Wall Street" group. These anti-capitalist people are getting a lot of attention, usually with a question: What do they want? Well, "The Factor" has found out.

No. one, the group wants "income equality." That is the feds taking money from the affluent and from corporations and giving that money to the poor and working class in the form of tax breaks and entitlements.

No. two, the left well understands that President Obama is in big trouble because of the faltering economy. So MoveOn and big labor, who are partially funding the demonstrations, are using the protesters to demonize the wealthy, the strategy being to link rich Americans with the Republican Party. The plan is kind of devious to convince the American public it is the wealthy and corrupt Wall Street that have destroyed the economy, and that the Republican Party is supporting the bad guys. In that way, President Obama is not responsible; it's the GOP.

Now for the no-spin truth. There are some bad people in finance. Here's an example: The former head of Merrill Lynch, Stanley O'Neal, bankrupted the company by trading in mortgage derivatives. O'Neal was fired, but walked away with a $160 million payment. Disgraceful.

We sent Jesse Watters to visit O'Neal:

(BEGIN VIDEO CLIP)

JESSE WATTERS, "O'REILLY FACTOR" PRODUCER: Hey, Stan. Jesse Watters of Fox News. How are you? Millions of people lost millions of dollars at Merrill Lynch. You pulled a lot of money out of there and didn't do a very good job. How do you feel about that? You know, a lot of people trusted you. You don't have anything to say?

(END VIDEO CLIP)

O'Neal had nothing to say. He is the poster guy for what's wrong with Wall Street.

But the present economic mess is not O'Neal's fault. The problem we have now is because Barack Obama's bet that almost a trillion dollars in federal stimulus could turn the economy around failed. The president took a shot and it fell flat. All the protests in the world will not change that fact.

So what you see on the streets of New York, Boston and other cities is not what you get. There are heavy politics involved.

And that's "The Memo."

Pinheads & Patriots

As you may know, I have been giving General Electric CEO Jeffrey Immelt a hard time. He allowed some awful things to happen at NBC News when he was in charge, and he has moved jobs overseas to China and other places while being part of President Obama's economics team. Anyway, "60 Minutes" did a profile of Immelt on Sunday, where he said this:

(BEGIN VIDEO CLIP)

JEFFREY IMMELT, CEO, GENERAL ELECTRIC: You know, I grew up in Cincinnati, Ohio, and my parents are really right-wingers. My dad watches, like, five or six hours of Fox News everyday and stuff like that. So I called home and said, "Just to give you a heads up, you know, I'm going to be with the president, and he's asked me to lead this jobs council."

And my mother said, "Well, you said no, of course, didn't you?"

I said, "No, mom, that's not what I said."

(END VIDEO CLIP)

Obviously, Mr. Immelt's parents are patriots for watching Fox News.