Ralph Nader in No Spin Zone

This is a rush transcript from "The O'Reilly Factor," October 8, 2008. This copy may not be in its final form and may be updated.

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BILL O'REILLY, HOST: In the "Personal Story" segment tonight: Although he's not getting much attention this year, Ralph Nader is again running for president and has been closely watching the McCain-Obama race, including the debate last night. Mr. Nader joins us now from Connecticut.

OK. I mean, you heard the program. You know how I feel about this economic chaos, and you saw the candidates last night. What say you?

Click here to watch the interview.

RALPH NADER, INDEPENDENT PRESIDENTIAL CANDIDATE: Well, I didn't hear the phrase "jail time not bail time" for these Wall Street crooks who have swindled trillions of dollars and then jumped into a golden lifeboat while they tanked their own companies, unemployed workers and loaded up on innocent taxpayers and put it to the pensioners.

You know, don't these guys believe law and order? Crime in the suites. You know, $700 billion blank check bailout without any power given to the shareholders? Without re-regulating these crooks so they can't do it again? This is serious stuff, Bill.

In all of American history I've never seen anything like this. I've never seen more cowardly members of Congress. I've never seen such a toady in the White House. You know, 230 years ago we were 13 colonies under King George III. We're now 50 colonies under King George IV. Time for taxpayer rebellion.

O'REILLY: All right. Bush is certainly culpable on this. But we've got to look forward. And you've got two guys who both say they're change agents. You've got McCain, who has been noted as a tough, feisty guy. I think he's a no spin guy. You've got Obama, who's very smart and has seen poverty, because he worked in poverty in Chicago. They both get up on the national stage, and they don't show a lot of passion for the folks suffering, and I'm trying to figure out why. Do you know?

NADER: One, they're dialing for the same corporate dollars for their campaign. Two, they're not part of the risk. You know, you heard Obama say they're well off, they've got good pensions, they've got secure jobs. And third, the people are not organizing yet. They're really angry, but they're not organized to really put a laser beam on these guys. There is going to be...

O'REILLY: Why should you have to put the laser beam on them? Why don't they figure out that the folks are angry, as you just said, and everybody knows that. Why don't they figure out, "Look, I want to get on the side of the folks"?

I'm not buying the corporate money, because Obama raises his money through Internet. He has got more money than he can spend. And McCain, you know, he's jacked up, too, with a lot of money. They don't need any more money. They need to get on the right side of the issue.

Now, what they say, I don't have too much of a quibble with, but the way they say it, it's coming across as politics as usual when we're in a terrible situation that requires a crusader and a real, real passion to right the wrong.

NADER: Look — look, if they had any guts, Bill, they would make the speculators on Wall Street pay for their bailout. A one-tenth of one percent tax on security derivatives speculation this year will produce $500 billion.

We had it during the Civil War, the Spanish-American War, FDR. But right now people — working people going into a store, and they pay six percent sales tax for necessities of life. A hundred million dollars buy on a derivative of Exxon tomorrow, they don't pay a cent sales tax.

McCain and Obama have no guts. You know, they may have political courage in some ways, military courage, but they don't have the moral courage, which is why we're going to have a big rally on Wall Street October 16 of taxpayers, investors, pensioners and workers to confront Wall Street and, apropos Reagan and Berlin, we're going to say, "Tear down that wall."

O'REILLY: OK. Look, you are a notorious anti-corporate guy, and you've been that way. I've known you now for decades. You've always been an anti-corporate guy. I'm not an anti-corporate guy. I believe that corporate...

NADER: I'm an anti-corporate crime guy.

O'REILLY: OK, but you — come on, Ralph. I mean, you know, your posture is that these people more often than not are taking advantage of the folks. I don't believe that. I believe that most corporations provide jobs and health care, and you've got to have them in a nation of 300 million. I'm not a corporate basher. What I am is I want oversight and I want bad people held accountable for their misdeeds. I don't want to tear the system down, and I don't want to go in with a hammer and get innocent people who do run their companies' wealth. That's not me. But you have two guys...

NADER: That's not me either.

O'REILLY: You've got — well, come on, Ralph, I mean you know you're not…

NADER: No, no, no. We've known each other...

O'REILLY: Go ahead.

NADER: We've known each other a long time. We want good regulation, the federal cop on the corporate crime consumer environmental abuse beat. And that's why we want people to log in at Events Nader and VoteNader.org.

O'REILLY: I'd make you in charge of the SEC. You are the guy. You'd be such a pain in the butt to them that they wouldn't do anything. That's where I'd have you. All right. Ralph Nader.

NADER: Let me ask you, Bill: Would you speak at Wall Street at our rally?

O'REILLY: No, I don't get involved with any political stuff. I am a watchdog.

NADER: This isn't political.

O'REILLY: I'm a watchdog, Ralph. That's what I am.

NADER: You're a watchdog. You're a watchdog.

O'REILLY: All right.

NADER: Let me ask you: What's your favorite cat?

O'REILLY: My favorite cat? My favorite what?

NADER: A little humor. Put those guys in jail.

O'REILLY: Oh, what's my favorite cat. Did you go to happy hour before you came on this program or what?

Ralph Nader, everybody, in Connecticut.

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