This is a rush transcript from "Special Report," November 5, 2014. This copy may not be in its final form and may be updated.
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SEN. RAND PAUL, R - KY: I think this is a repudiation basically of the president's policies, but also Hillary Clinton. Hillary Clinton and Bill Clinton have been all over the place. They're trying to make it out as if they are somehow better for Democrats. Well, in Kentucky they were soundly rejected.
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BRET BAIER, ANCHOR: It's like Senator Rand Paul thinks he is going to it be running against Hillary Clinton or something. In fact, he tweeted out some pictures of candidates that Hillary Clinton campaigned with over this entire campaign season, and each one had "#Hillary's losers." I think Rand Paul is making a point here. We're back with the panel. Mara, clearly he is kind of running ahead of the game.
MARA LIASSON, NATIONAL PUBLIC RADIO: He wants it to be Rand versus Hillary anyway he can. See that big smile on Hillary's face in those pictures. She did exactly what she wanted to do. She got a lot out of all of those losing races. Don't kid yourself.
LIASSON: She showed up.
BAIER: Positive midterm losses for Hillary?
LIASSON: I think that Hillary benefits by having an all-Republican Congress. I'm not saying that's what she wanted. It clarifies things in Washington. She can push off against the Republican Congress. She doesn't have to defend Harry Reid anymore. I mean --
BAIER: There is one benefit, potentially, that Martin O'Malley did not get the Lieutenant Governor. Anthony Brown elected in Maryland, and that's a real weakening thing for a potential 2016 candidate. They lost Florida. They lost Ohio in the governor's races. That's a machine.
A.B. STODDARD, ASSOCIATE EDITOR, THE HILL: -- she wanted a Republican Senate. I wrote about that today. She absolutely -- Rand Paul and the Tea Party Express sent out all those lists of all the people she campaigned for. She only wanted to help them. Getting them elected wasn't important. She wanted to be there with them. She smashed 45 appearances into less than 60 days and she did what she had to do. They all owe her now. She wants to run against the crazy Republican Congress.
STODDARD: She doesn't want to defend Harry Reid. She doesn't want to defend President Obama. She wants a Republican Congress to run against for the next two years. It's much easier for her campaign.
BAIER: What excuse does Alison Lundergan Grimes now have in Kentucky?
LIASSON: It doesn't matter. She showed up. She was a good Democrat.
STODDARD: She was a party girl.
HAYES: Look, she can take her Alison Lundergan Grimes chip and throw it away. It makes absolutely no difference.
HAYES: She is supposed to be a key player.
HAYES: Look, this was a bad night for Barack Obama. It was a bad night for Hillary Clinton because it was a bad night for big government liberalism. This is what she has to embrace is Barack Obama. She was part of the administration. She has to answer for his foreign policy.
STODDARD: I understand that.
HAYES: She is going to try to run away from his domestic policy. And she is in a horrible position now with the voters having rejected it as decisively as they have.
HAYES: If you have chips for politicians who are not in office matter more than rejection of her basic philosophy of governance, I disagree with you.
BAIER: Well, how about this? Look at Arkansas, every congressional seat in Arkansas is now Republican. Arkansas, Clinton home country, now is a Republican state, even at the Congressional level and the governor's office, and the Clintons spent a lot of time trying to put Mark Pryor across the finish line.
CHARLES KRAUTHAMMER, SYNDICATED COLUMNIST: Look, showing zero coattails is not a good way to start a presidential campaign. She showed zero coattails. Incidentally, I want to commend Rand Paul. He set the indoor record for the shortest interval between one campaign and another. I think it was eight seconds between the end of that one until he launched against Hillary.
BAIER: I want to go down the line favorite races of the night of the campaign.
HAYES: Yeah, I think Wisconsin governor was interesting for a number of reasons. We have talked about it a lot. But I think the fact that Scott Walker won his third race in four years. He won it because he told the voters he was going to do something. He went in and did it. It was a difficult thing for him to do. He took on entrenched interests. He won, and he won this election with almost the same vote total as he won the 2012 recall, which I think really says something. I think it sets him up to run in 2016.
LIASSON: I think Colorado really encapsulates the entire Republican strategy this year. Republican establishment intervened early, got rid of Ken Buck, made a deal so their chosen candidate Cory Gardner who obviously was a better candidate got in. Cory Gardner understood that he had to change his approach to female voters. He disavowed his support for the personhood amendment, supported over-the-counter birth control, which Planned Parenthood also supports. And, he didn't win women but he ate into the gender gap. That -- and so he had a very successful year. And I think they proved that a state that has been blue is now purple again.
STODDARD: I was most entertained by Iowa. You looked at one of the most, Bruce Braley, the Democrat lost. He lost his House seat to Republicans and he lost his Senate seat. This was a race that was not on the Republican's radar screen. The Democrats could have kept it blue. He was the least disciplined candidate. Joni Ernst, not the most dynamic speaker but the most disciplined candidate. Iowa is sending its first woman to congress and it's the first female combat veteran in Congress. She of course was made famous in the primary with her ad saying she grew up castrating farms -- I mean hogs on an Iowa farm.
BAIER: She may have castrated a farm too.
STODDARD: And Bruce Braley was just a bad candidate. And it's an exciting outcome for Iowa.
KRAUTHAMMER: I love her slogan, we're going to make them squeal. There was a hell of a lot of squealing last night. The race I liked the most was the one in Maryland where I live where the Lieutenant Governor, Anthony Brown, was considered such a shoo-in. No one spoke about the Maryland race. No one. You didn't hear a word. And the Republican, Larry Hogan, came out of nowhere. He won by eight points. This tells you -- the reason I like it, it shows the extent of this political event into the bluest of the blue, Maryland. This wasn't a tea leaf election, it was a nuclear explosion.
BAIER: Panel, thank you very much. That wraps up the panel, an extended panel.
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