O'Reilly vs. Rep. Weiner Over Gold Scam Claim

This is a RUSH transcript from "The O'Reilly Factor," May 24, 2010. This copy may not be in its final form and may be updated.

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BILL O'REILLY, HOST: In the "Factor Follow-Up" segment tonight: As we reported on Friday, our pal Glenn Beck is angry that Congressman Anthony Weiner is accusing him of scaring Americans into buying gold. Beck's radio program is sponsored in part by a company called Goldline. Here is Beck last Friday:


GLENN BECK, HOST, "GLENN BECK": They have an A+ rating. They retain their A+ rating in an industry that is full of F's.


BECK: So it's weird.


BECK: It's almost like Weiner is going after something else…

O'REILLY: Maybe you.


O'REILLY: With us now to respond, New York Congressman Anthony Weiner. You know I don't really care about Goldline and this stuff. I know you are going to introduce legislation and I want to hear about it, but why are you bothering with Beck? I mean why bother with him?

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REP. ANTHONY WEINER, D-N.Y.: It's not really about Beck so much.

O'REILLY: But you've made it about Beck.

WEINER: No, but hear what it's about. First, the report focuses on an important thing. This is a time of a lot of economic insecurity. A lot of people are looking at gold, and a lot of these shows talk about gold.

O'REILLY: Right.

WEINER: This is a report about if you're going to buy gold to make an investment, whether you should go to this place Goldline or some other place. And we just found and, look, the data speaks for itself. We didn't make it up. You can wind up getting 112 percent be overcharged by Goldline on buying a gold coin. That means you go years…

O'REILLY: But why…

WEINER: …before you make the money back.

O'REILLY: …but why did U.S. Better Business Bureau give Goldline the highest rating A+. You see, I mean, look, if I'm a broadcaster and I did this on the "Radio Factor." I worked with a company called Blanchard Gold.

WEINER: Correct.

O'REILLY: And now we checked them out, and they, you know, if it comes back Better Business Bureau A+ highest rating, I'm going to do the slot.

WEINER: Yes, well, let me tell you. First of all…

O'REILLY: But why did they get an A+ if you say they are a bunch of charlatans?

WEINER: I'm going to explain it. First of all, they have 45 complaints in one county against this place. I don't want to hear — hold on a second, hold on a second. Now, one of the things they do is they make — anyone who makes a complaint sign a nondisclosure non-complaint agreement. But one other thing has happened. We also know that the L.A. Times reported the Better Business Bureau, one of the ways you can get A+ is by paying a higher due. But I can tell you this, it's not just the Better Business Bureau…

O'REILLY: Are you saying the Better Business Bureau can be bribed?

WEINER: I'm just saying that they, I'm saying the (INAUDIBLE), that's the L.A. Times here. But let me tell you there's more in the places than this: Securities and Exchange Commission complaints against them; the Missouri Attorney General found them guilty of defrauding people in the state of Georgia in 2005.

O'REILLY: But we looked into this. Every gold company or a bullion company or any kind of commodity company has complaints. But you have a bunch of F's, the fact of the matter is you picked out one company and there are dozens.

WEINER: Well, this is the biggest.

O'REILLY: Are you saying this company — this is the only company?

WEINER: This is the biggest and, by the way, we did look at other companies.

O'REILLY: This is A+.

WEINER: No, no, hold on a second, hold on a second. We did look at other companies.

O'REILLY: Did you look at Monex's?

WEINER: Well, here is what we did.

O'REILLY: Did you look a Monex's?

WEINER: Hold on a second.

O'REILLY: Wait, wait, Congressman. Did you look at Monex? M-o-n-e-x, did you look at that?

WEINER: Let me and here is what we did. Here is what we did.

O'REILLY: You didn't.

WEINER: We took — you are picking a company.

O'REILLY: Sure, you did.

WEINER: Hold on a second. Here is what I will do.

O'REILLY: And they got an F, mind…

WEINER: Yes, Bill, on a second. You — the difference is I took the largest company and one that Glenn Beck has a relationship with and you advertise very heavily. Glenn Beck has a responsibility to the people who watch your show to say, you know what? There are smart ways and dumb ways to buy gold that I'm advocating this is a bad way.

O'REILLY: That's not true. He doesn't have that responsibility.

WEINER: Can I tell you something. Can I tell say something? Well, I will say, he used to be a paid sponsor for this company. Fox, to their credit, said you have got to stop that relationship because it's unethical.

O'REILLY: The difference between television and radio.

WEINER: No, no.

O'REILLY: The difference between television and radio.

WEINER: I don't — well, look, can I tell you something, Fox was right, Glenn Beck is wrong.

O'REILLY: You're oversimplifying this. But I want to wrap it up.

WEINER: Well, by the way, I was going to say just on the point of oversimplifying, anyone can go to my website and look at the prices.

O'REILLY: I want them to.

WEINER: And by the way, I defy Glenn Beck to dispute the premise of the report. You can read the reports.

O'REILLY: I'm sure he will. And when he does, we'll give him his say because he's going to be on later in the week. But here is what you're wrong about. You singled out one company when you can make a case against almost every gold company.

WEINER: They are the biggest.

O'REILLY: And they can charge whatever they want.

WEINER: Of course they can.

O'REILLY: It's the consumer's responsibility to find out…

WEINER: It's my job to warn them. And by the way…

O'REILLY: You warn them about everybody.

WEINER: Well, we warn them about the worst. Yes, it happens all the time.

O'REILLY: The worst doesn't get an A+.

WEINER: Fox — Fox does a report all the time about the worst in the field.

O'REILLY: The worst does not get A+ from the Better Business Bureau.

WEINER: I've already explained that. I've already explained. The worst does have…

O'REILLY: No, that's your opinion.

WEINER: No, no.

O'REILLY: Forty-five out of how many, 10 million?

WEINER: Hold on a second, hold on a second. By the way, you're doing an excellent job defending this company.

O'REILLY: I'm not defending this company.

WEINER: That's exactly what you are doing.

O'REILLY: This is selective prosecution by you.

WEINER: No, no, no. In that case, in that case the Missouri Attorney General had a selective prosecution, the SEC had selective prosecution?

O'REILLY: Perhaps. And the Better Business Bureau, what did they have?

WEINER: The Better Business Bureau had a rating that was much lower and…


WEINER: …and they agreed to give them higher one. The L.A. Times said it was for sale.


WEINER: Can is say something? You are doing exactly what Glenn is doing.

O'REILLY: No, I'm not.

WEINER: You're being…

O'REILLY: I'm trying to be fair.

WEINER: No, Bill, you're being a shield for this company.

O'REILLY: No, I'm not.

WEINER: I've got to tell you something. You didn't ask Glenn about the prices of these products when he was on.

O'REILLY: Because I don't care about it. The company…

WEINER: Ok, that's where you and I are different.

O'REILLY: Right.

WEINER: I care about it. Glenn doesn't care about it. You don't care about it. I do care about it. And by the way you should, buddy.

O'REILLY: No. As long as the company — no. You're wrong. As long as the company gets A+ Better Business Bureau rating, I'm OK with it. Whatever they want to charge, they can charge.

WEINER: What if I tell — what if I tell you they are a rip off but they're great business at being a rip off.

O'REILLY: That's your opinion.

WEINER: No, no, no.

O'REILLY: And we respect your opinion.

WEINER: The price says it and you can look it up. By the way, I want to say one other thing.

O'REILLY: Smacks of a witch hunt here.

WEINER: Oh cut it out.

O'REILLY: Smacks of a witch hunt.

WEINER: Can I tell you something? This is — I understand you are defending this company that advertises on your…

O'REILLY: I was not defending this company.

WEINER: I understand. Glenn Beck — Glenn Beck is your business partner. I get it. I get it.

O'REILLY: A whole different…

WEINER: But defending someone that gouges customers, you ought to be ashamed of yourself here.

O'REILLY: Ok, I'm not saying they do or they don't.

WEINER: Well, the facts are…

O'REILLY: I'm saying…

WEINER: Go to my website. The facts are the facts.

O'REILLY: And I want people…

WEINER: They are immutable. All we did, and we took them from publicly acceptable — I can say something, would you invest in something that was…

O'REILLY: I check it out.

WEINER: But would you invest in something that has 100 percent markup.

O'REILLY: I would check it out.

WEINER: But let me ask you something: Would you do that? Of course you wouldn't. So is it a good thing to point that out to consumers or bad thing?

O'REILLY: I'm not saying you are doing anything wrong other than…


O'REILLY: Other than…

WEINER: You said it's a witch hunt.

O'REILLY: It is. Other than…

WEINER: On this company giving information.

O'REILLY: One company with a guy you don't like.

WEINER: I'm giving the information.

O'REILLY: And people should look at and make up their own mind.

WEINER: And I think we can agree on this: In tough times like this, middle class people investing their money we should be doing everything possible to prevent them from being gouged. That means not…

O'REILLY: All right. If had you done this with 10 companies, I would say yes.

WEINER: We did. I was going to tell you something. We did it with five companies and found out they were the highest. You picked one that I didn't do. We picked the biggest and the one that advertises left and right on Fox News.

O'REILLY: All right.

WEINER: I have to tell you something. You bear some responsibility, unfortunately, when they advertise on your show.

O'REILLY: All right. And we'll take it. Now, Beck will be here on Thursday to reply.

WEINER: I will be back on Friday. I think we should have some hot dogs and some Becks beers and have some fun.

O'REILLY: You want to debate Beck mano a mano?

WEINER: You know, I've got to tell you something he's — he just wants me, he wants this debate because I give him so much.

O'REILLY: Would you do it one on one?

WEINER: I would be glad to.

O'REILLY: All right, we could set that up next week.

WEINER: O'Reilly can do anything.

O'REILLY: You bet I can.

WEINER: Clear to me.

O'REILLY: All right. Congressman, thanks for coming in and we appreciate it.