This is a rush transcript from "Special Report," May 20, 2011. This copy may not be in its final form and may be updated.


HERMAN CAIN: Tomorrow high noon Centennial Lincoln Park in Atlanta I will be making a major announcement about my candidacy for the Republican nomination.


BRET BAIER, ANCHOR: Herman Cain, businessman now politician with a big announcement this weekend. The Friday lightening round is right now. What are his chances in the Republican primary? We are back on the panel. Tucker?

TUCKER CARLSON, EDITOR, THEDAILYCALLER.COM: Republicans love Herman Cain. Herman Cain is probably the most conservative person running in this primary. And he is living proof that Republican primary voters are in no mood for compromise. This is a message that some of the other candidates have not apparently learned. They continue to alienate conservatives. Take a look at Herman Cain and see what the voters want.

BAIER: Karen?

KAREN TUMULTY, WASHINGTON POST: They love him. I don't think they are going to vote for him.

BAIER: Wow, that's pithy. Okay, Charles?

CHARLES KRAUTHAMMER, SYNDICATED COLUMNIST: I agree. I like the guy but his candidacy is for entertainment. He might drain away a bit of the new guy on the block approach from say a Bachmann. But otherwise I don't think it's gonna have a big impact on the race.

BAIER: E-mails to Charles Krauthammer and Karen Tumulty. Next up, the week in sexual stories. Arnold Schwarzenegger fathers a child -- cheats on his wife, fathers a child with the housekeeper, and Dominique Strauss-Kahn, the former head of the IMF now charged with attempted rape among other charges. Charles?

KRAUTHAMMER: It reminds us of the fundamental axiom of all sociology men are essentially animals. And as Pat Moynihan insisted that's been true for eons and would have remained if not for the civilizing effect of women.

BAIER: Karen?

TUMULTY: You sound like my grandmother used to say never trust a horse, a gun, or a man.


TUMULTY: But I think these stories are as much about power as they are about sex.

BAIER: Tucker?

CARLSON: I defer to Dr. Krauthammer, all men are creepy, powerful men are the creepiest.


KRAUTHAMMER: And that combines our two views.

CARLSON: Yes, that's exactly right.

KRAUTHAMMER: -- beautiful synthesis.

BAIER: This is quite lightning. I'm liking this.


BAIER: Okay, last topic. The end of the world apparently is tomorrow, May 21st, 2011 according to at least one group. We have a lot of things planned for Monday, so we're hoping that we'll see you then. Tucker?

CARLSON: It's weird this is the last "Special Report" panel ever. In fact this is the last Friday in the history of the world. And I just want to say it's been great. And I appreciate everything, Bret. Thank you.

BAIER: It's good to be here with you.

TUMULTY: I am not going to do my laundry or pay my bills until Sunday just in case.


BAIER: How about this though. It's gotten a lot of attention.

KRAUTHAMMER: Look, I think the end of the world is really swell. What it means is you can eat red meat, you don't have to exercise and you don't have to floss. Everything has an upside.

BAIER: So we started this and I said be pithy because we don't have enough time. Now we have plenty of time. Alright, big story next week, I am going to put you on the spot. What do you think, Tucker?

CARLSON: The fact that the world still exists. I think that will lead every paper in the country. We are still here.


BAIER: Karen?

TUMULTY: Ya know, I think it is whether these debt ceiling negotiations whether they are moving or not.

BAIER: Because right now they are not. The Gang of Six essentially is now a Gang of Five. And it seems like that negotiation has stalled.

TUMULTY: And I think that that question has a potential to define a lot of everything else that's happening in Washington.

BAIER: Charles?

KRAUTHAMMER: Obama's speech at AIPAC is gonna be historic, because if he wants to retreat or at least to strengthen assurances to Israel in any way it will happen in that speech. If he leaves everything as is, without any of the shoring up of the stuff he left out or left ambiguous, there will be a huge rift between him and the pro-Israel community, which I would add is about nine tenths gentile. It's not about -- AIPAC has a lot of gentiles and Jews, and he'd be alienating a huge constituency. So it'll be an important speech on the wording and the formulations.

BAIER: Prime Minister Netanyahu also addresses Congress. It will be interesting. Hopefully we will be here.

That's it for the panel, but stay tuned to see the end of a tough week for one candidate.

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