This is a partial transcript from "The O'Reilly Factor," April 23, 2007, that has been edited for clarity.

BILL O’REILLY, HOST: Now for the top story tonight, reaction to our investigation. Joining us now from Atlanta, Phil Kent, author of the book "Foundations of Betrayal: How the Liberal Super Rich Undermine America". And here in the studio, conservative radio talk show host Monica Crowley.

Monica, we'll begin with you. Did I leave anything out?

MONICA CROWLEY, RADIO TALK SHOW HOST: No, I think you were right on. And you know what? This is an incredibly well oiled, brilliantly orchestrated machine. And as you pointed out, it's also a brilliant way to get around the campaign finance laws in this country.

You have one guy in George Soros. You had mentioned big business had been criticized for this stuff before. Here you've got all of this power in the hands of one guy because he's got a billion dollar fortune, where he can put his money wherever he wants.

The problem is twofold. Number one, transparency. This guy has been able to fly under the radar for a long time before you just exposed him because the mainstream media protects him, because they're on the same ideological page.

O'REILLY: OK and also because it's a complicated — you see where the money flow goes. Can you put that chart up again? Because it goes through three or four places.


O'REILLY: Before it gets to the intended source.

CROWLEY: Exactly. But, you know, this is a web, but it's not a particularly tangled web. Because as you pointed out.

O'REILLY: Clean.

CROWLEY: You can trace it back two or three organizations away from George Soros. He's not even making an attempt to keep his fingerprints off of this.

And the other point, too, Bill, is accountability. So you have transparency, OK, which he's trying to obfuscate with this kind of web, but also accountability. So he can finance Web sites like you mentioned, Media Matters, other organizations, that will go out there and smear right-wing politicians, smear right-wing pundits and commentators and so on. And there's no accountability because it's floating out there on the web.

O'REILLY: We live as a freedom of speech. Now Mr. Kent, you know, you’ve got to admire Soros for coming up with this organization. I mean, you know, he's made billions by doing this in business, by being in Curacao and Bermuda and France, where he was convicted of a felony. And he knows how to do this. He knows how to move the money around and use it to gain influence. And now he's set his sights on changing the basic fabric of this country.

PHIL KENT, MEDIA CONSULTANT: Well, that's right. George Soros is really the Dr. Evil of the whole world of left-wing foundations. In fact, one of his most chilling quotes a few years ago was that the main obstacle to a stable and just world is the United States.

He really hates this country. And he funds these things, as your chart points out, and open borders and even radical Islamic groups that defend suicide bombers. So this guy is all over the map.

O'REILLY: I didn't have that on there. Now what's the radical Islamic group that defends suicide bombers?

KENT: The American Arab Anti-Discrimination Committee Research Institute is a Soros recipient. And they've actually defended suicide bombers. And I've got this in my book. And how he funds La Raza, the race, the open borders advocacy group.

O'REILLY: Yes, he funds La Raza. Now what is the intrusion of the mainstream media? Because you've got some pretty big names. Bill Moyers. Wednesday night, he's going to take a big shot at the press on PBS. We know he's in bed with Soros. Rosie O'Donnell, not taken seriously, but certainly a platform every day on ABC. "New York Times", two of their main columnists. "Newsweek" magazine Jonathan Alter. And NBC News, where it's pitiful, but they have commentators that basically take exactly what Soros gives them and spit it out over the airwaves. That's a lot of power, is it not?

KENT: It's a lot of power. Soros really does believe wealth controls culture. And he wants to really control the political scene in the United States and the media. And as your chart points out, it's very chilling the groups that he is funding through the Open Society Institute.

You know, the assets alone of this private tax-exempt foundation, over $175 million.


CROWLEY: And as you point out, he loves the Tides Foundation, a big left-wing tax-exempt foundation.

O'REILLY: Yes. Oh, I didn't know it was that high right now. $175 million tax free.

KENT: Absolutely.

O'REILLY: Now Monica, if you're like Lieberman and you're a moderate Democrat, Soros can put a big hurt on you fast.

CROWLEY: That's right. I mean, I mentioned right-wing commentators, right-wing politicians. But if you are a moderate, responsible Democrat who happens to take a different point of view than George Soros, you are just as much of a target.

O'REILLY: Now we believe that John Edwards has forged some kind of an arrangement with Soros. I can't prove it beyond a reasonable doubt, but his actions are pretty much dictated by Move On. He's absolutely right in with those people. Have you seen that?

CROWLEY: I have heard that reported, Bill. And you know, that's the real danger here is that these — there are campaign finance laws on the books to prevent exactly this. To prevent a politician from being held in the pocket by a fabulously rich guy like George Soros.

O'REILLY: Yes, I mean, this is off the chart.

CROWLEY: Again, if you don't — that's right. And then if you don't toe the line, you run the risk of being cut off by somebody like that.

O'REILLY: And attacked.

CROWLEY: And attacked.

O'REILLY: And attacked.

CROWLEY: You do not want to have that danger, not if you're running for president.

O'REILLY: Right. And they don't stop at you. They'll go for your family. They'll go for — Mr. Kent, I'm going to give you the last word. But are there any Republican or conservative groups that rival Soros'?

KENT: You know, I tell you, the research that I compiled in my book, if you take the top three conservative tax-exempt foundations, they're totally dwarfed by Soros and the radical Ford Foundation. It's probably 15 times more the assets. Remember, Moveon.org and Soros spent $5 million alone in the anti-Bush ads in 2004. They have got clout.

O'REILLY: Yes, it will be four times, five times that much in the 2008 election.

KENT: Absolutely.

O'REILLY: Monica, Kent, thanks very much. We appreciate it.

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