Updated

To watch "the memo" click here.

Hi, I'm Bill O'Reilly.  Thank you for watching us tonight. 

Hi, I'm Bill O'Reilly, thanks for watching us tonight.  NBC is talking to Bill Clinton about doing a TV program.  That's the subject of this evening's Talking Points Memo.

Mr. Clinton's spokeswoman Julia Payne confirms the story and the L.A. Times reports that the former President wants a yearly salary of…Ready? $50 million bucks. Wow.  Does Katie Couric know?

For that kind of money, Bill Clinton must have a major role at NBC. Here are some suggestions:

The former President could host a news program called "What It Is." That's kind of slang for “what's going on?” There could be a problem with the word “is” however because of its complex definition.

Mr. Clinton could host a reality program called, "Temptation Office."  A mock Oval Office set would be built and various temptations would be put before the star. The audience would vote on how long he would hold out.

A spinoff of The West Wing could be ordered up.  It would be called “Right Wing .. Conspiracy: Victims Unit.”   Each week those brought down by various conservative attackers would be featured , in an ensemble drama, featuring James Carville and Socks the Cat.

For 50 million, Mr. Clinton might also want to co-host the upcoming Phil Donohue program on MSNBC, to give the show a conservative balance.

But my preference would be for Bill Clinton to star in a sitcom called, "I Beg Your Pardon, Marc Rich."

Another ensemble cast would take us into the wacky world of political fundraising, buying influence and acting indignant when questioned.

I see Mr. Clinton playing himself.  Angelina Jolie as Hillary. Billy Bob Thornton as Roger Clinton and Jack Nicholson as Marc Rich.

That would be huge and worth every penny of the $50 million Marc Rich, I mean NBC would pay Bill Clinton.  And that's the memo.

The Most Ridiculous Item of the Day

Time now for "The Most Ridiculous Item of the Day."

In New Jersey, two high school students who were winners in a sexual abstinence essay contest are…you guessed it ... pregnant! Sixteen year old Eboni Wilson wrote that having sex without a condom, is like playing Russian Roulette.

So apparently Eboni passed on the condom. The contest was part of the annual Healthy Mothers, Healthy Babies Teen fair.

Time now for the most ridiculous item of the day.  In New Jersey, two high school students who were winners in a sexual abstinence essay contest are…you guessed it ... pregnant!

16 year old Eboni Wilson wrote that having sex without a condom, is like playing Russian Roulette.

So apparently Eboni passed on the condom. The contest was part of the annual Healthy Mothers, Healthy Babies Teen fair.

Ridiculous? Looks that way.

— You can watch Bill O'Reilly's Talking Points and "Most Ridiculous Item" weeknights at 8 & 11p.m. ET on the Fox News Channel. Send your comments to: oreilly@foxnews.com