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Glenn Beck
Is Wall Street Running on the Banks?; Librarian Fired for Turning in Pedophile
Aired March 27, 2008 - 19:00 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
(BEGIN VIDEOTAPE)
GLENN BECK, HOST (voice-over): Tonight, Bear Stearns bailout is pissing Americans off. I`ll explain how our government tried to stop a run on the banks and actually has caused one you don`t know is happening.
Plus, Obama gives a major speech on the economy.
SEN. BARACK OBAMA (D-IL), PRESIDENTIAL CANDIDATE: A free market was never in meant to be a free license to take whatever you can get, however you can get it.
BECK: This, from the same guy who warns that we`re in a "you`re on your own" society. You`re warning me of that? I celebrate that.
And a Wisconsin girl died when her parents turned to prayer rather than medicine. The debate over parental rights, personal responsibility, and government intrusion heats up.
All this and more, tonight.
(END VIDEOTAPE)
BECK: Well, hello, America. My name is Glenn, and I`m a recovering alcoholic. I am not an economist. Yes, I know that comes as a surprise, but I am a thinker. And I think you are, too. So I don`t want to talk to you tonight about the ins and outs of macroeconomics, because I think we`ll both put a gun to our heads. I want to talk to you about something simple. Good old-fashioned run on the bank.
You`ve probably seen video like this before. Here`s Northern Iraq. Something that causes a panic and people line upside -- you know, outside the bank to get the money out. I saw this in the Jimmy Stewart movie. Remember that, in "It`s a Wonderful Life"? They horde it all, and then they stash it under their mattress, because they`re afraid of what`s coming next.
Well, in last night`s "Real Story" segment, I argued that the historic rescue of Bear Stearns by our government was to prevent, not just a classic run on the bank like that, but a complete meltdown of our financial system, and you never heard about any of it.
Well, now look who agrees. A little paper called "The Wall Street Journal." I want to show you the front page today of the "Wall Street Journal." Here`s an article called "Ten Days that Changed Capitalism."
It starts, quote, "The past ten days will be remembered as the time the U.S. government discarded a half century of rules to save American financial capitalism from collapse. Not just a company or an industry, but our entire capitalist system."
So, if I`m in Crazytown, I guess "The Wall Street Journal" is the mayor.
So, here`s "The Point" tonight. In trying to prevent a run on our banks, our government has actually triggered one. And here`s how I got there.
Lost in all of the news about the Bear bailout was something else our government announced that weekend, that they were opening up something called the discount window. This is -- this is something where banks can go and get money, you know, and they opened it up to institutions who`s never access to it before. Just like your teller window at your bank, the discount window lets banks pull up and take out a whole pile of cash from the Fed. It`s exactly what they`ve been doing, just in an orderly fashion. But they`ve been running on the Fed. Stocking up on cash, and then, just like a panicked investor, stuffing it under their mattress.
How do I know? Well, let me just show you some of the evidence here. There`s supposedly plenty of cash in the market, right? Where is it all? The buyout of Clear Channel Communications collapsed because the banks didn`t want to lend $19 billion that they`d promised. Home equity loans are getting harder and harder to obtain or refinance, because banks don`t want the risk. In fact, they want their money back from you. Student loans are drying up. Try to get a loan next year at some banks.
And now, according to the "Financial Times," banks are, quote, "hoarding cash," which is a fancy way of saying, they`re putting it under their mattress. The banks have run on the Fed.
So, tonight, here`s what you need to know. The underlying problems that triggered this crisis haven`t gone away. And that leaves us with three possible paths to follow, as I see it, but remember, glug, glug, glug.
One, things get worse. Another domino falls, a hedge fund falls, something falls, and we start a meltdown faster than the meltdowns that Mel Gibson has during a DUI stop.
Option two: things get worse and the government tries to stop the panic by Bear Stearning, i.e., socializing, nationalizing everything they can get their hands on.
Or, option three: everybody just stays calm, walks slowly to the exits and eventually we`re all fine. I choose option No. 3, but somehow I think our government has option two in mind.
Bob O`Brien is the stocks editor at Barron`s Online. And John Tamny is the editor of "Real Clear Markets" and the senior economist with Wainwright Economics.
Let me go to John first. Run on the bank or no run on the bank, when it comes to the Fed?
JOHN TAMNY, EDITOR, "REAL CLEAR MARKETS": I think it`s a big shame. I think failure is the ultimate teacher, and the problem with the Fed trying to bailout all manner of institutions, and the federal government trying to do the same thing is that it does not allow people to learn the lesson that caused them to fail to begin with, which ensures more of these mistakes in the future. And it also robs them of the lessons that tell them how to go about their business properly.
But the federal government involvement is just going to make things worse.
BECK: OK, Bob, if you listen to John`s answer there, I think you heard that he didn`t answer my question, which is usually means you disagree with me. Bob, let me ask you, are the banks running on their bank, the Fed?
BOB O`BRIEN, BARRON`S ONLINE: Yes, you bet. Glenn, they`ve already done it. As soon as the Fed opened these windows to financing to some of the non-bank banks that are out there, the Goldman Sachs, the Lehman Brothers of the world, all of a sudden, they went, tapped on the window and got $31 billion over the course of the first 48 hours that these windows were open. So, not only was there a run on the bank; there was a run on the bank as soon as the -- as soon as the guard unlocked the front door.
It`s taken place. It`s going to continue to take place. And we`re going to see more of these opportunities for these banks, as well as some of the broker dealers that aren`t actually technically banks take place as the Fed gets even more unconstrained in its lending practice.
BECK: So, John, I think we`re on our way to nationalizing all this debt, and we`re making the same mistakes that as we made in the Great Depression. We are putting the same restrictions -- I mean, it`s almost textbook the same stuff that we`re doing in some ways.
TAMNY: Isn`t it remarkable to read about all this? What we keep hearing is that they`re trying to do some of the same things they did during the Great Depression.
As you and I have discussed on this show before, well, that was a ten year slowdown where unemployment never fell for the most part of the ten years. So why would we want to do the same things that kept the economy from recovering yet again? Yet, that`s what the federal government`s trying to do. So it`s going to take what should have been a minor correction and it wants to turn it into something much, much worse.
BECK: Bob, help me -- help me work this out. As I see -- and again, I don`t do what you guys do. As I see the Fed, they have a valve, and they can open it up and they can make money easier to get or harder to get. As they open up the valve, the value of the dollar goes down. And the way they make it easier, they open up that valve by making interest rates lower.
OK. So, at some point, they`re going to open up that valve, and it would be, at the very end, and it`s not going to affect the market. At that point, isn`t that when they immediately go, "Oh, crap," and try to shut the valve or slow it down -- shut it down as much as they can because they`ll know we`ve dumped too much money out there, and now we can`t affect anything. Is that -- is that right or wrong?
O`BRIEN: Well, Glenn, ultimately, but I think what`s going to happen before then is that the Fed is going to be well behind the curve here. I mean, there`s a phrase that`s pretty familiar to investors on Wall Street. The Fed pushing on a string, meaning you push on the bottom end of the string. The top end doesn`t move.
The Fed is clearly doing that right now. They`re behind the curve. They failed to recognize some of the problems that are -- that have been in the marketplace throughout the -- you know, the evolution of this -- of this disaster that we`ve seen recently.
I don`t think the Fed`s thinking is going to change. I don`t think they`re going to suddenly leap ahead of the curve, realize when it`s just a little too late and suddenly shut off the spigots. I think they`re going to wait much too long before they get there.
BECK: And then -- and then John, what happens if they don`t shut -- if they`re behind the curve like that? What happens to the economy? Inflation goes up, right?
TAMNY: Inflation`s already there with us. It`s been with us for years, and I think that`s why we have this problem today. The Fed is diagnosing, it`s trying to fix the wrong thing. The problem we`ve had since 2001 is the dollar`s been in a steady freefall since then. Invariably, it leads to these kinds of economic distortions and investment mismatches that put us into these kinds of situations. The Fed does not understand what ails this economy, and it`s pretty scary.
BECK: OK, so, what`s coming next? I mean, you know, the headline was pretty frightening, ten days that changed capitalism. And yet, nobody on Main Street really knows what`s going on. I don`t think anybody, even on Wall Street, really understands the consequences of this.
So, what`s -- what`s next and how long before the next shoe falls?
O`BRIEN: Well, Glenn, actually, I think there are some people on Wall Street who do understand the consequences of this. Those are the traders that circulated those rumors that Bear Stearns was on the brink of bankruptcy who took short positions in Bear Stearns stock, who bought put options on Bear Stearns and cashed out to a mighty fortune.
So, there were some people out there who knew exactly what was going on, understood the consequences of what they were doing. Now, whether those things are favorable to, you know, Ma and Pa, who are trying to live on their -- live on their annuity, is another question altogether. But some folks...
BECK: But how -- how does the average folk -- I mean, you know, this is what I said on the radio show today. There`s been a run on the bank, and the only one that doesn`t have their money is you at this point. The average person doesn`t have their money. So, what does the average person do?
O`BRIEN: Cry.
BECK: Bob, you`re banned from the show for two days for that.
Give me some -- John, give me some hope, man.
TAMNY: I`m often laughed at for saying this. I think the fact, if they can stay in their homes, housing is one of the most defensive assets you can have. And everybody`s talking about a big collapse. But it hasn`t collapsed nearly as much as equities amidst all this.
BECK: All right. Thanks a lot, guys.
And thank you for your honesty on this situation. I know a lot of people just aren`t telling the truth on it.
Coming up, let`s go to Barack Obama. He tells America about his plans for the economy. Boy, this guy just doesn`t get it. I`ll speak to somebody who does, Ben Stein.
Then, the one guy who could help expand John McCain`s knowledge of the economy is Mitt Romney. But I don`t think these two like each other too much. We`ll get that in the "Real Story."
And a reminder, tonight`s show is brought to you by the Sleep Number bed. Sleep Number, it`s the bed that counts.
(COMMERCIAL BREAK)
BECK: Now you ask anybody who knows John McCain, and they`ll tell you, he`s a man with a temper. Of course, that`s off the record, right? The true test of his ability to lead the nation will be whether or not he can bury the hatchet not in but with Mitt Romney, and get a real education in Economics 101. I`ll bring you "The Real Story" behind their scheduled meeting today, in just a minute.
But first, take a look at this. Love this.
(BEGIN VIDEO CLIP)
UNIDENTIFIED MALE: Main Street not Wall Street! Main Street not Wall Street!
UNIDENTIFIED MALE: Main Street not Wall Street! Main Street not Wall Street!
UNIDENTIFIED MALE: Main Street not Wall Street! Main Street not Wall Street!
(END VIDEO CLIP)
BECK: These are protestors at Bear Stearns headquarters yesterday. They`re not angry about the company`s collapse or the fire-sale price. They`re angry that the government is helping Wall Street and not them.
And of course, like any good politician, Barack Obama picked right up on that theme today and ran with it on a speech on the economy.
(BEGIN VIDEO CLIP)
OBAMA: If we can extend a hand to banks on Wall Street, when they get into trouble, we can extend a hand to Americans who are struggling, often through no fault of their own.
(END VIDEO CLIP)
BECK: Trying to do that finger thing. Absolutely we can, Barack. In fact, why not extend the hand to everyone? Struggling, not struggling, Wall Street, Main Street, Cherry Street, Oak Street, Whatever Street. We`ll just print more money.
It`s a feeding frenzy. These people are out of their mind. And now everybody is opening their mouths sucking on the government teat. Obama even had the audacity of hopelessness to say this yesterday.
(BEGIN VIDEO CLIP)
OBAMA: George Bush called this the ownership society. But what he really meant was "you`re on your own" society.
(END VIDEO CLIP)
BECK: Yes, it`s called capitalism? Right? I mean, isn`t that what our Founding Fathers kind of had in mind? Maybe if more people relied on it instead of the nanny-state safety net of the government trough, then we wouldn`t be in this situation to begin with. But maybe that`s just me.
Let`s check in with another kook like me, Ben Stein. He is the creator of a new movie, called "Expelled: No Intelligence Allowed" and co- author of "Yes, You Can: Supercharge Your Portfolio."
Ben, Clinton came out with her plan today, Obama came out with his plan today, and can you say socialism?
BEN STEIN, CO-AUTHOR, "YES, YOU CAN": Well, I don`t think it`s socialism. By the way, I just have to say, your imitations of the candidates are so funny. You did an imitation the other day of Barack Obama saying, "Yes, we can."
BECK: Yes, we can.
STEIN: And I must say, many times a day when I`m stuck in an airport line or on an airplane that refuses to take off...
BECK: Yes.
STEIN: ... and I`m in a terrible mood, I think of you doing that, and it was awfully, awfully funny.
BECK: Thank you.
STEIN: You`re very, very funny.
BECK: Thank you.
STEIN: I don`t know if you realize how funny you are. But you`re really, really funny.
BECK: I mean, please go on.
STEIN: Anyway, OK. So, the -- the idea of bailing out every homeowner is just out of the question. We don`t have enough money to do it, and a lot of these homeowners, in fact, most of them got in trouble by making mistakes of buying homes they couldn`t afford.
That shouldn`t even be on the table that a guy who`s as prudent and as hard working and his family should be taxed to pay for people who are not prudent and who got into trouble.
BECK: How is this not socialism? How is this not nationalizing our debt, Ben?
STEIN: Well, our debt is already nationalized to a large extent. But I would -- I would agree with you. We don`t want to say, "Look, if you have any kind of trouble whatsoever, the government will bail you out." That just is a recipe for endless, hopeless, out-of-control inflation.
But I think if these big Wall Street banks have shown, as they have, that they can`t run their own affairs, I think some kind of supervision of them to make sure they don`t get into trouble and require a government bailout is very necessary.
BECK: OK, hang on here. Let me show you the -- let me show you the talking points for Clinton.
She said the Federal Housing Administration should stand ready to buy troubled mortgages if the auction plan is insufficient. She said greater protection for lenders from possible lawsuits by investors and also proposes $30 billion housing stimulus package.
Obama said expand oversight to any institution that borrows from the government. Toughen capital requirements for complex financial institutions like mortgage securities. Streamline regulatory agencies and overlap and compete competition from regulators. I love that one. And a $30-billion economic stimulus package for relief.
STEIN: Well -- well, I`ll tell you what. I think, actually, the part about regulatory oversight is right. If these investment banks have the act to borrow now from Uncle Sam as they do, I think they should be supervised by Uncle Sam.
If you and I are going to be paying our tax dollars to prop up investment banks...
BECK: Ben, you`re -- you`re accepting the premise of we should be giving them money. I don`t want to give them money.
STEIN: But that`s already on the table. That`s not going to change. We`re not going to change from doing that. That`s -- that`s -- you`re not going to turn that clock back, just like you`re not going to turn back free trade. That`s -- that`s already going to happen. So...
BECK: I`m moving to the Bahamas. I`m moving to the Bahamas.
STEIN: No, you`re not.
BECK: It`s not -- it`s not like one of these, you know, crazy people: "I`m moving to Canada if they get elected." I`m moving to the Bahamas.
When did -- when did we lose freedom? When did we lose capitalism? You know what? You know what Obama`s little catch phrase was during the economy speech? It was shared prosperity.
STEIN: I understand that. And I understand that totally. But the facts are what they are. The fact is, the government is going to bail out Wall Street. The fact is, the government is going to bail out a certain number of homeowners. I hope it`s a very small number.
I just want to see some supervision. If my money is going out there to bail out people who are making $70 million a year, I want very strict regulation of them. I mean, I want to bail out people who -- the heads of Bear Stearns, the head guy made something like $40 million last year. If we`re going to bail him and his pals out, I`d like some regulation and some supervision.
BECK: Again, I don`t think we should bail them out.
STEIN: But it`s already done.
BECK: I know that but Ben, if you buy into this principle, it`s coming again. You know -- well, maybe you don`t.
STEIN: It is going to come again. It is going to come again. That`s just...
BECK: Yes, so stop it now.
STEIN: It`s not going to be stopped. That`s just the way it. It`s not going to be stopped any more than Social Security for rich people is going to be stopped. I mean, look, why should we have Social Security for people who have unearned incomes of $5 million a year? And yet we do, and they`re not going to take it away.
As long as we have this kind of socialism, let`s have some supervision, too.
BECK: Holy cow. All right. Ben, thank you very much.
STEIN: Thank you.
BECK: God bless you, Ben.
STEIN: God bless you.
BECK: Coming up, a librarian fired for turning -- turning in a man who was looking at nude boys on a public computer. This is how we reward somebody who`s trying to do the right thing now in America. Oh, yes, the Bahamas starting to look good, isn`t it?
And, I`ll speak to the director of "Fighting for Life." A great new documentary on the side of the military that you don`t see every day. The brave doctors, the nurses and the medics overseas, coming up.
(COMMERCIAL BREAK)
BECK: Hold on, because this is another one of those only-in- California stories. Blood shoot out of your eyes.
Brenda Biesterfeld, she was a librarian in Lindsay, California. She turned in a guy who was looking at nude pictures of boys on one of the computers in the library, shockingly, helping to identify the predator, allegedly defied the orders of her supervisor. Biesterfeld eventually lost her job, but thankfully, the accused pedophile apprehended by police and charged.
Now, when asked, "Why did you -- why did you fire me for blowing the whistle on a sex offender?" Biesterfeld was told that she worked for the county, and when the county tells you to do something, you better do it. You`ve got to be kidding me.
Matthew Staver is Brenda`s attorney and founder and chairman of Liberty Council.
Matthew, Brenda had to be dumbfounded when she found out she was being fired for turning this guy in. What did she do wrong here, exactly?
MATTHEW STAVER, BRENDA BIESTERFELD`S ATTORNEY: Glenn, she didn`t do anything wrong. She did the moral and legal possibility that all of us would do, when they saw something like this.
She was working in the library. Judy Hill was her supervisor. And she saw this individual viewing child pornography. Not just any pornography, child pornography. When she reported it to Judy Hill, Judy just said, "Give him a warning, and if he does it again, he can`t come back." Well, it disturbed her so much...
BECK: Give him a warning?
STAVER: ... she consulted with some other friends. And she couldn`t just not do something about it. So she called the police. They said, "If he comes back again, call us, let us know."
He came back again. He viewed pornography of children again. She called the police. When they arrived, they caught him in the act of viewing child pornography, and they arrested him. They searched his home, found child pornography on his home computer.
Judy Hill, the supervisor, was upset, said to the police, "Who turned this person in? Who reported him? This is a privacy issue"...
BECK: Hang on, hang on.
STAVER: "This person has a right to privacy."
BECK: He doesn`t have a right to privacy. It`s child porn, for the love of Pete.
STAVER: Absolutely.
BECK: Does Judy have any children?
STAVER: Well, and there is no privacy right, whether you`re at home or, heaven forbid, in a public library, viewing pornography of children.
BECK: There`s no -- there`s no difference if it`s in a library or if it`s home again.
Judy, do you have children? Why would you protect this monster who is looking at child porn?
Here we are as a society, we`re all upset. We got to get these child predators off our streets. We`ve got to do our job. And you, for some reason -- does she have any reason of why she`s upset, that -- that your client would turn this child predator in? Has she said why she did that?
STAVER: She does not have -- she has no reason for it. When she found out that Brenda Biesterfeld turned this person in, then right after that, she terminated her. And Brenda is seeking her job back.
It`s outrageous. Child pornography is pernicious. It`s not protected. You don`t have a right to view it or possess it at any time, in any place. This is a serious situation across the country.
But when we have a public library saying, well, it`s a right to privacy, don`t turn him in, just give him a warning and tell him not to come back, that is outrageous.
BECK: I have to tell you...
STAVER: What they found was that -- and he`s in jail now for pornography at his home as well as in the library on computers.
BECK: I have to tell you, I`d like to get Judy on. I doubt she`ll come on the program.
Come on, Judy, bring it on. Come on on the program. I would love to hear your excuse of why you would fire somebody for getting a child molester off the street.
Thank you very much, sir. We`ll -- we will talk to you again, and we`ll follow this case. I think Judy should be fired.
Coming up, a Wisconsin family decided to treat their diabetic daughter with prayer instead of traditional medicine. Consequences deadly. Do they have a right? Decision, next.
(COMMERCIAL BREAK)
BECK: We all know that there are two sides in warfare. Those who fight and those that heal. And while we all know the cost of war to the troops on the front lines, we don`t usually see the individuals fighting every day to keep our wounded brothers and sisters and sons and daughters and nieces and nephews alive after sometimes suffering inconceivable injuries. Well, there`s a great new documentary called "Fighting for Life" and it tells the story about those doctors, the nurses and the medics and we`re going to speak to the director of the film in just a minute. He`s a two-time Oscar winner. I don`t think he`s going to be real popular in Hollywood. That`s coming up in just a second.
First, welcome to the "Real Story." When I first heard about this item earlier this morning, it shook me. I had a hard time getting through it. Not because it has a tragic ending, but because it also has me wrestling with some fundamental issues of rights and responsibilities in the government and how much more intrusion the government can inflict on us. I don`t know what to think anymore. Eleven-year-old girl, Wisconsin, she died last week from a treatable form of diabetes because her parents didn`t seek treatment. They didn`t even know she was a diabetic. They chose instead to pray, leaving her fate in God`s hands. Medical reports show that she just had too little insulin in her body to be able to survive.
Well, here`s the real story. These people don`t understand parenting, they don`t understand God, and a child had to pay the ultimate price for their parents` careless selfish stupidity. To make matters worse, we now risk the government sticking their nose where I -- they don`t belong there. I don`t trust these guys, maybe it`s just me. I firmly believe in the power of prayer, in God`s healing power. I also believe that God gave me my children and the right to raise them as I see fit.
However, I also strong little believe that God gave me a brain, and an ability to reason. He gave us doctors and good common sense to protect our children and do whatever it takes to keep them safe. These parents had a right to pray for their sick daughter. But they also had the responsibility to get the proper medical attention to keep her alive. This is tough. I am a person of devout faith. I pray for God`s help all the time.
But I don`t know about you. The God I pray to is a big fan of common sense. I mean, he kind of likes that. When he`s given me about this much of it. Home schooling has recently come under fire. I don`t need the government to tell me what`s best for my children`s education or their health, because I get it. Butt out.
However, sick kids need hospitals, just as much as churches, and there are a lot of dumb parents out there. It is irresponsible parents like these two in Wisconsin that give a bad name to the overwhelming majority of those of us who integrate our deep faith into our daily lives. I don`t want any law telling me how to heal or educate my kids. And neither should you. If it ever comes to that, heaven help us.
Michael Graham is a radio host for 96.9 WTKK in Boston. Michael, you`re on a jury, you send these guys -- you send these guys to jail?
MICHAEL GRAHAM, RADIO HOST: Yes, I do. And you know, I wrestle with the same thing. We had a story here in Boston of the courts ordering parents, saying you could not take your own kids out of special ed and hire your own tutor. You had to do what some school administrators said for you to do. And my Glenn Beck alarm went off. No, no, these are the parents, let them decide.
But my line for this individual choice and this individual responsibility is direct physical harm to the child. This 11-year-old girl is dead. And the parents, here`s what I`m saying to every parent out there. I will give you as much latitude as I can. Absolutely you can take your kids to bizarre churches, you can teach them that Hitler was great. You can even have them support the designated hitting rule in baseball as radical as that is.
But when there`s direct physical harm, you will be held responsible. And every parent in America needs to see these parents in jail. And you know, Glenn, there are three more kids still at home, because the local cops in Wisconsin say they can`t see any evidence of abuse.
BECK: OK. Here`s the thing, Michael. I don`t think these parents should have any problem going to jail. If you -- if your child died because it was your religious conviction that you had to pray them into health, and they died, well, then it was God`s will and you did the right thing, so, you know what, sorry. Sucks to be you, you`re going to jail, and they should haven`t a problem. And they should haven`t any sympathy.
GRAHAM: OK Glenn but what if the neighbors say, she doesn`t look right, and I know that there are no direct things but there`s something there and the neighbors want the police to step in and get her medical interference. Are you going to support the cops coming in at that point?
BECK: I am wrestling with this one, Michael, because I think the answer is no, because, again, I no longer trust our government. That`s horrible to say, but I no longer trust these people.
GRAHAM: Well, you can`t trust them when you have case after case, as we do here in Massachusetts of DSS kids dying.
BECK: Here`s the question. And you are the perfect guy to answer this. Remember the 16-year-old kid that had cancer and had chemo, and then said, please, don`t do it to me again, I can`t do it. And the parents said, let`s get him herbal treatment. Well, the kid died. I supported his right to do that all the way along.
You`re living in a state where, you didn`t get condoms, your kids can get condoms. They can have sex, they can make their own decisions, they can do everything on their own, no questions asked. At what point does a child have the right to say, no, I want to pray myself to better health as well?
GRAHAM: For me, and obviously I don`t agree with the state of Massachusetts on this, but the issue is direct physical harm. As soon as you get to that line where you can see the physical damage, it`s no longer speculation. At that point, my belief in individual liberty or responsibility is triumphed by another belief, the premise of life. You have to preserve life, whether by a dopey minor kid or his parents.
BECK: Michael, the state is telling you in many states, you can go -- don`t talk to your parents - you don`t have to worry about it. You want to have sex? We`ll help you with STDs, we`ll help you with information, et cetera, et cetera. That also leads to death. Even if it doesn`t lead to death, it also leads to extraordinary emotional damage, in most kids, if they`re young. So, again, where`s the line? What`s the age of accountability?
GRAHAM: You and I know that the loonies of the left have destroyed all the common sense anyway. You are in more trouble selling a 16-year-old a cigarette than you are taking her across state lines to have an abortion to cover up the evidence of a rape.
This is the bizarre world we live in. My standard has to be -- parents, I`m going to empower you. You can stop your minor children from getting abortions. They`re your minor children. You can control the classroom content. Like you`re in Massachusetts, if a first grade is going to have a storyline on heather has two mommies and here`s the video, then yeah, I want mom and dad to step in. But when it comes to physical harm, you`re going to be responsible for the consequences.
BECK: OK, thanks a lot, Michael.
Now Mitt Romney has left the presidential race. I was a little disappointed myself. I mean, look at me. I`ve been bingeing on cake. Now whether or not you like his politics, you can`t deny that Romney has the - probably the right word, a wealth of business experience that would come in handy, you know, given the state of our economy. He`s appearing with John McCain today on the campaign trail that has some people wondering whether or not Mitt Romney has a shot at sharing the ticket.
But may I give you the real story? He doesn`t have a shot in hell. Did I say that out loud? Mitt Romney has about as much chance as getting the vice presidential nomination as I do, and trust me, John, call me, it ain`t ringing.
John McCain actually worries me a bit. He may be the Republican`s presumptive nominee, but I don`t presume that he knows squat about fixing the economy. He`s an old war horse. He`s a one-trick pony. He loves to talk about national defense. He has a lot to say there, but I don`t think he has much else to say any place else.
But more than that, the word on the Hill is that John McCain is as vindictive as they come. Somebody says something about him and he holds it against them forever. This is probably one of those stupid things that he`ll never -- anyway. He`s quick to draw the battle lines, and he and Mitt Romney are on opposite sides of things. They don`t like each other. At least, John didn`t like Mitt.
When war was the primary thing on Americans mind, McCain was the guy. He had the background as a soldier and a senator and it all made sense. It still does. But less so today because it`s the economy, stupid. Oh, yeah, and aren`t we fighting a war? McCain may have said that he read Alan Greenspan`s book. That`s a quote. But something else tells me, it`s going to take a little bit more to, you know, save us from the brink of a depression? Just saying. A guy like Romney has the chops to balance the ticket and save our butts. So, will the party or anybody else in the party put pressure on McCain to bury the hatchet and do what makes sense, or is that an offer that McCain can refuse and he`ll end up reversing the line from the godfather, it`s not business, it`s personal?
Jay Nordlinger, he is the senior editor for "The National Review." Where do I have this wrong, Jay?
JAY NORDLINGER, NATIONAL REVIEW: Well, John McCain wants to be president a lot. He`s tried for a long time. He`s had this great hunger for it. And I think he`ll do what is necessary to become president. And I think if he thinks Romney is the guy, vice presidentially, he will go with him. I think he will be practical in this. He really wants that job.
BECK: Gosh, I don`t want somebody who really wants that job. I want them to want it -- what was that?
NORDLINGER: It`s a little late now as far as the Republican Party is concerned.
BECK: What did you say?
NORLDINGER: It`s a little late now as far as the Republican Party is concerned.
BECK: Believe me, it`s really late for the Republican Party. So, you think he`ll fold on this or do you think there`s a chance he thinks that Romney is the right guy or not?
NORDLINGER: Sure. I think if the judgment is of himself, the people around him that Romney would be best in the vice presidential slot, that he would do the most for the Republican ticket, McCain will go ahead and pick him. I don`t think he`ll be stopped by anything in the past. I think Romney will be happy to do it. I`m not sure a Romney pick would be wise, as much as I admire him. But I think McCain will go with him.
BECK: Who is better on the economy?
NORDLINGER: Well, there`s probably no one better on the economy. But Romney has liabilities, as we saw in the presidential primaries. And there`s this church affiliation. There`s a lot of prejudice in the land. And this is an unknowable factor.
BECK: I love this. His church affiliation? Well, God forbid we even look into Obama`s church.
NORDLINGER: I know just what you mean. But this is an ugly fact of life. And I remember talking to Orrin Hatch about this when he ran for president briefly in 2000. And one of the things he told me was, one reason he was running was to make it easier for the next guy, for the next Mormon candidate. I`m not sure it is. It`s an unknown.
BECK: I`ve got to tell you if he runs against Barack Obama, Mitt Romney is exactly the guy to take on Barack Obama about the church. He would take him -- he could say, I want to ask you a few questions about the church. And you know I know a little something about churches being misperceived, et cetera, et cetera.
So, if it`s not Romney, who is somebody that he should consider? I have a list of names here, and as I look at them. I mean, there`s Charlie Crist.
NORDLINGER: I don`t think so. Too much trouble from conservatives.
BECK: No. Jeb Bush. There`s nobody going to elect a Bush again.
NORDLINGER: Too bad.
BECK: I hope. Well, you know what? Out of all of them, I like Jeb the most. I think he`s the best, out of all of them.
NORDLINGER: It`s the so-called dynasty problem.
BECK: Barbara was probably the best. Christopher Cox.
NORDLINGER: He`s kind of a renaissance man. Rob Portman is kind a renaissance man. Done a lot of things, knows a lot of policy. He`s youngish, which might help McCain. He`s very acceptable to conservatives. I remember talking to Barry McCaffrey a long time ail go when he was drug czar in the Clinton administration. And McCaffrey said there`s this young guy, a congressman from Ohio, no one`s ever heard of him, but I hope he`s president one day. There`s Tim Pawlenty of Minnesota, the governor. Governor Sanford of South Carolina.
BECK: None of these guys are going to have any quote unquote, gravitas. I mean, he needs to pull somebody out like Bush pulled out Dick Cheney that went, all right, all right, there`s somebody that`s good, on this particular thing, and the rest of the country knows him.
Jay, thanks a lot. That`s the "Real Story" tonight. Just a reminder, if you missed any part of our series this week that highlighted the disturbing black liberation theology that is the foundation of Barack Obama`s church, shh, then please go to GlennBeck.com right now. Sign up for my free e-mail newsletter. We will send you a free recap of the series in tomorrow`s edition. It is important. You will understand his economic policy if you understand the theology of his church.
Coming up, the Academy Award winning director of a new military documentary called "Fighting for Life." This guy is going to be very popular in Hollywood, coming up.
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BECK: Well, most documentaries you`ll see about Iraq don`t exactly show the good stuff that`s being done for the brave men and women who are risking their lives every day and the brave men and women who are making the difference between their life and death. That`s why I`m proud to be able to tell you about "Fighting for Life." It`s a fascinating, often shocking look at the extraordinary efforts of military physicians and the nurses and the medical aides who share the battlefield and deal with cases every single day that most doctors never see in a lifetime. It is a long, long way from anything we ever saw on "M.A.S.H."
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UNIDENTIFIED FEMALE: It has nothing to do with whether you think this is a just war or not. That doesn`t have anything to do with it. The fact of the matter is, we`re there, and those are our families, those are our, other people`s children.
UNIDENTIFIED MALE: There`s nothing normal about war. There`s nothing normal about seeing people losing their limbs. The thing that keeps us going is the attitudes of our patients.
UNIDENTIFIED FEMALE: When I signed up, I signed up to make it a career. I`m not letting it stop me.
UNIDENTIFIED FEMALE: I`m OK, momma.
UNIDENTIFIED FEMALE: I know.
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BECK: People are amazing. Whether you agree with the war or not doesn`t matter. We support our troops. American soldiers deserve the very best medical care and attention that we have to offer and this film shows you in no uncertain terms that they get it, thank god.
The producer and director of "Fighting for Life," two-time Academy Award winner Terry Sanders. And I have to tell you, Terry, any time I hear that somebody won two Oscars, I think to myself, well, there`s a movie I don`t need to see. This is remarkable. Why did you decide to tell this story, or how did you stumble on USU?
TERRY SANDERS, DIRECTOR: Actually, like 99 percent of the world population, I had never heard of USU. But the mother of a student in that incredible medical school was aware that the school was under threat of closure by Congress, by the Defense Department, and thought it was really because no one knew about it.
In fact, the students called it the best medical school that no one`s ever heard of. So, this Tani Aldrez (ph) came to me and to my company and asked us to do a film. That`s how it started.
BECK: It is extraordinarily graphic. Why did you include that? Why so much graphic -- so many graphic scenes?
SANDERS: We had incredible, amazing access to the entire spectrum of military medicine. And military medicine involves wounds, involves serious injuries. And not to show it would be like not to, not to show what the subject of the film was. And also, the compassion and the skill and the dedication of the doctors and nurses is really incredible to watch in contest of the wounded.
BECK: I have to tell you, one thing I take from it, and I`ve seen it and felt it before, and it`s such a great, glorious message. While our enemy will glorify death, they are not afraid to die, et cetera, et cetera, neither are we. But we really like life, and we -- it shows that as we put our money where our mouth is on the extent or the lengths that we will go to heal a fallen soldier. It`s amazing.
SANDERS: Well, you know, I think everyone likes life and it`s important. But the doctors and nurses, particularly those that, well, in our military medical, the Hippocratic oath is like ingrained into them. They are healers, they are in the service, but they are healers.
BECK: We`ve never had -- we`ve never had a war like this. Nobody`s ever had a war like this and seen this kind of medical care, you know -- I think we`re just blazing new trails on medicine and care for our soldiers, at least why they are over there. I know we`ve had problems over here. What is the biggest thing you took away from this?
SANDERS: I think the biggest thing I took away was just the extraordinary technology, for one thing, of moving patients from their point of injury to the stabilizing and then quickly moved on my Medivac plane, flying, intensive care units to the next level of care, and then in Germany, Landstuhl military service there. And then, onto Walter Reed and other hospitals in the U.S. The technology, but really, it`s the caring and the compassion and the dedication and the skill that comes across.
BECK: Terry, I know you`ve won two Oscars, I hope you don`t count on anymore, because you`ve just made a movie that is an honest look at the heroic things our soldiers and the doctors do. I don`t know how you are going to win another one, but I appreciate it. Thank you so much.
SANDERS: Thank you.
BECK: Back in just a minute.
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BECK: I have to tell you, every time I watch the news, I`ve been screaming a phrase at the TV. Every time. And it`s a phrase that I think in this country, we used to it understand it, but now, we`re afraid to say it anymore. And the phrase is too bad. Sometimes when you`re strive for something, you don`t make it. That`s OK. Just pick yourself up again, try again. Not a crime to fail. You don`t cry for the government. Oh please, come help me out. Here`s Barack Obama earlier today.
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SEN. BARACK OBAMA (D-IL), PRESIDENTIAL CANDIDATE: As I said at NASDAQ last September, the core of our economic success is the fundamental truth that each American does better when all Americans do better. That the well-being of American business, it`s capital markets and its American people are aligned. I think that all of us here today would acknowledge that we`ve lost some of that sense of shared prosperity.
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BECK: Shared prosperity? Well, doesn`t that sound like a beautiful socialist dream. Of course we all want everybody to do well. I want you to succeed, I hope you want me to succeed. Well, if you`re Keith Olbermann, you don`t, but that`s a different story.
The only thing that makes somebody learn a lesson is to allow them to fail. And the possibility of failure is the only thing that makes somebody manage their own risk. When you bail people out, you don`t do society or the individual any favors at all. I think we need to start telling people, too bad. Oh man, that stinks, huh?
Hillary Clinton, you lost the primary, but you want to seat the delegates from Michigan and Florida. No, too bad. You make $19,000 a year and you decided to buy an $800,000 house? Now you`re being foreclosed on. Wow, too bad, huh?
You`re a bank that decided to give some dope an $800,000 mortgage even though they only made $19,000 a year and now you`re going under. Too bad. Brian Sack who appears on this program periodically to ridicule my job performance and he`s usually right has a new book coming out called "In The Event of my Untimely Demise: 20 Things You Need to Know and my Son Needs to Know."
In it, he describes how this country has turned from meritocracy into what he calls a want-ocracy. We live in a country in which some people mistake wanting something with deserving something. You know what? That message needs to get into the adults of this country just as much, if not more into any child. Too bad.
If you missed my series on the beliefs behind Barack Obama`s church, sign up now for my free e-mail newsletter and get the completely recap tomorrow. You will understand his economic policy if you understand his church and their theology. If you don`t, too bad.
From New York, good night, America.
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