glenn: i am so excited. have you seen -- i just got this in the mail.

my wife wants me to do this. what is this? the neckline trimmer. you watch. i have been using it. stay in touch with the program and sign up for my free e-mail newsletter and i will give you before and after shots. the sotomayor hearings have been happening. the only thing that the media is covering today, however, they're not covering what i believe is a merger between general electric and the obama administration. the deal is almost damn near complete. tom burelli is here, senior fellow for the national center for public policy research and charles payne with the fox business network. tom, let me start with you. you actually have said that you think g.e. is building infrastructure inside of our government. you want to explain that? >> yeah, there is no doubt about it.

mr. immelt on mr. obama's economic advisory panel. that's from the top. g.e. just hired linda daschle, so i think they're taking the goldman sachs view of the world as the way to control their business is to control government, and the problem that we're facing here here with the supreme court nominee, what g.e. does with healthcare and what g.e. is going to do with cap and trade is going to permanently affect the lives of every american now and into the future, and that's the danger that we're facing with this merger. both men have an urgent need. mr. obama needs to get his policy agenda out in this narrow window and mr. imelt's stock has been suffering for so long, he desperately needs to get his business going. it is a narrow window. glenn: but tom, he is not a short-term thinker. i think he looked at this stock and went, it doesn't matter, because i'm going to win in the end. charles is here.

charles, these guys, in two days, they accomplished what wal-mart tried to do in four years and become a bank. the fdic came in and said, why don't you guys just guarantee all of our loans and the federal government said yes in two days. >> it is amazing. they have gotten tarp money through a different program without the rigors of tarp. they haven't been stress tested. we still don't know what lies beneath g.e. capital. the stock is down tremendously because that's a huge question mark and yet here we are. we have funded over $70 billion in backing their loans. it is absolutely worrisome. >> what is cit? >> it is big in the news. it fell 66% down in the last month, down big yesterday, today and friday. they give loans to small and medium sized businesses. it is the same as g.e. capital. they can't get a nickel and are on the verge of going out of business and here you have a conduit to small and medium

businesses, and if anything, they should be thrown a lifeline. glenn: tom, you just said the right thing. everybody talks about they are too big to fail. nobody -- this is why the little guy and the entrepreneur in this country is just going to get screwed, because they don't have tom daschle's wife to lobby for them. >> well, that's absolutely right. we're being shut out of this corporatism system. that's why americans who watch your show need to understand these issues so we can tackle the elected officials and general electric r imelt is going to be sitting on the beach with millions and thest of us will be standing in line with universal-funded healthcare. >> i think g.e., what they are building is incidious. think of this. they have universal pictures. they have nbc news, the nbc entertainment network. they have biography and all those other networks including

lifetime. they are an aerospace industry. they are in defense. energy, everything. >> everything that is going to benefit from the obama administration cap and trade, the windmill stuff, you know, everything that -- healthcare, and electronic medical records glenn: are they into the neckline trimmer? >> the next time you order it, it may be coming from g.e. but you got to say, listen, g.e. is doing what they want. glenn: they are doing what is good for g.e., but not what is good for the country. anybody who had a problem with halliburton, where the heck are you now? >> that's the thing. that's what i can't believe. one of the problems is that msnbc had a big problem with halliburton, but all of the people out there that talked about corporate marriages with the bush administration, these marriages, you look at the top ten donors to the obama administration, and you look at citigroups, the jpmorgans,

goldman sachs, they have all gotten so much taxpayer money under the government. glenn: goldman sachs, america, controls the world right now. we'll show you some stuff that will melt your brain, because they're going to come out with their earnings, and surprise, they did really, really well. let me just go here with you, tom, for a second. this is one of the things that i think -- i mean, really the merger here. you have ignacia marino, the assistant attorney general, environmental division of the department of justice. who is she? >> i think she works at general electric right now. >> this is part of the revolving door that we're seeing. goldman sachss is a perfect example. it is a revolving door between big government and big business and the little guy gets shut out of the system. glenn: thank you very much. looking for a six-figure

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bill. join me at 6:00 eastern for "special report." glenn: hello, america. i got my neckline slimmer cream. it actually smells rather

tasty. tonight, we have our hot list. some common sense solutions to stories where the mainstream media is not doing their job. let me start in california, which is still drowning in $26.3 billion in red ink. despite all those great iou's they've been sending out the past two weeks, by the way, california, you should use purple ink, not red? why be so harsh? there is plen plenty of anger and blame including the 5100 state retirees who get six-figure public pensions. we know the names of these people because the california foundation for fiscal responsibility named names. they posted their names on-line on a data base after a judge denied the pensioners' request to block the publication of that info. common sense tells you the pensioners, they're the wrong villain here. i mean, it was wrong to go after the a.i.g. employees who

received the bonuses. it is also wrong to target those pensioners who california who are receiving these ridiculous pensions. how about we blame the unions who pushed for these pensions and the politicians who went, yeah, ok. you just support me and i'll give you that. speaking of weasel politicians, hillary clinton, state department, quietly reverse add long-standing policy requiring foreign governments to pay taxes on diplomatic residences. that's going to cost the city of new york $260 million in back taxes, plus another $7 million a year in future revenue. wait a minute. aren't they raising taxes on people in new york? how come we're forgiving taxes for foreign country? there are two much bigger stories than $260 million that new york is now out of thanks to hillary clinton. first, we are becoming slaves to the entire world.

in fact, foreign debt now, that we owe, is e equivalent to nearly a quarter of our g.d.p. so are you really surprised that we don't blame china to sending our kids poison toys, you know? if you sell a rubber ducky at a garage sale, the feds are all over you, thanks to the consumer product safety improvement act. i'm not kidding. look it up. be careful what you sell at a garage sale, yet our regulators, i mean, they're not going right to the source in china where they make millions of lead-tainted toys and send them to us. and there's more proof that character doesn't matter. that's the second thing. wait, wait. way back when people couldn't remember when it was so far back last year when hillary clinton was a new york senator, she spoke in favor of the city's right to collect taxes, but now that she's the secretary of state, she's against it, so, in other words, when you change jobs,

you can change your mind. hmm. gee, i've always thought that right was right and wrong was wrong, you know what i mean? maybe that's something that the weasels just don't understand. job titles don't change the rules, except in washington. that's where they do, and that's request we're in the situation we're in. also, my mother used to tell me, show me your friends an i'll show you your future, since we're getting all buddy buddy with france, here's your future, gang. small-scale replay of the 2005 unrest there. about 60 young people rioted, burning dozens of cars, apparently after learning that a local man tried to commit suicide in jail. the man later died. that's not the only rup yiez uprising in france last week, 366 workers at bankrupt car parts factory threatened to blow up the factory unless they're paid the equivalent of $41,800.

i believe this is two years away from happening here in america. don't hold me to the time, but it's coming. i told you before i went on vacation last week that i was going to read a book called "the coming insurrection." it comes out next month. i have to tell you, this is what i did on my vacation. i highlighted the thing and wrote all over it. this thing is our future. the frenchy french are just way ahead of us right now. i have been reading this, and i'm telling you, america, we are in trouble. don't dismiss the warnings that we will give them to you here in the coming weeks. something wicked this way come. now back to the dpren much thing. i have to tell you, i have been weighing the options. blowing up a factory on the french side would cost wren nawlts about $2.8 million, but if someone blew up all of the auto parts they might naturally come down and build a better car than the friend research are assembling themselves.

i'm just saying. that's your hot list. by the way, common sense is out. i want to thank you so much for reading it. it is number one on "the new york times" and usa list again, and we appreciate it. it is my case against an out-of-control government. it was inspired by thomas payne. it is in bookstores now, four weeks now of number one new york times an usa today. pick one up, and please, you know, i was out on vacation and people came up to me and said just sign my book. i'm not signing this book, because i don't want you to keep it. i want you to read it and unless you highlight it and keep it in your pocket like i am keeping a book in my pocket now to ponder and think about, please, take this book and give it to a friend. wake as many people up as you possibly can. now, a lot of people want the possibility of a new world order or global government in the black helicopter crowd. it's not so crazy anymore, andhr

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glenn: do you remember the italian lira or the french frenh franc or the spanish currencies? they gave them all up for the euro. no, no, said each government. we will never do that. now there is call for america to give up our dollar for a global currency. gee, i think i have read that in a book somewhere. oh, the bible. the scary part. anyway, that would lead to a global government. meanwhile, treasury secretary tim geithner is globetrotting in an attempt to pump up confidence in our dollar. i'm sure saudi arabia will believe that tomorrow when he arrives just like the chinese did when he said that to the chinese students and they all laughed. joining me now, wall street journal's senior economic writer stephen moore. this morning, i was going through all the stuff that is about to happen and i knew you

would relate because you and i sat at dinners a few years ago and said there are no way these clowns will do these things and they are all happening now. this is crazy town. get off the dollar and have a global currency, but i think it's going to happen. >> yeah, when you started first talking about this a couple of years when we first met, glenn, i thought you were into the black helicopters an meteor shower crowd. if you look at what has happened in the last few months it isn't so crazy anymore. it's scary. it is not just the global currency. look at all the money we're putting into these global organizations like the imf, the world bank, a huge amount of funding for the united nations, which has always wanted a world governance and the other piece to this puzzle, two pieces to the puzzle, glenn, are the kyoto treaty, what the congress passed just two weeks ago, the cap and trade bill, which basically to make that work requires a kind of world governance of all energy use.

glenn: i'm going to come back to the dollar here in a second, but i want to go to where you were talking about and cap and trade. here is what al gore said last week, but we were all fascinated by other things that nobody paid attention to this. this is what he said in london. he said "i bring you good news from america," and listen to what the good news is. >> it is the awareness itself that will drive the change, and one of the ways that will drive the change is through global governance and global agreements. glenn: then we have chirac from 2000 talking about the kyoto protocol. he said "this is the first component of an authentic global governance. we have the eu environmental minister on kyoto." he said "this is about the economy, about leveling the playing field for big businesses worldwide." steven, i have to tell you, there are times that i feel

nuts for even thinking this, but you got to call a spade a spade. sometimes i think the people in our government are intentionally trying to trap us into this global government, because it's insane how they're thrashing our dollar. >> first of all, glenn, with respect to cap and trade, al gore is right. the only way this works is if you have global governance, where you have a global regulator and global taxer to police every activity of the economy in every corner of the globe. you know, right now, glenn, all the rest of the countries in the world are laughing at us. glenn: oh, i know it. >> they're amazed that we unilaterally economically disarmed ourselves with that vote on cap and trade. china and india now, they're licking their chops right now. they know all those jobs are going to go from the united states to china and india, and we're not listening to them, glenn, they said we will never sign this treaty and never subject our commit to these kind of regulations. glenn: when we come back, i want to talk about what japan

is doing with its yen, what china is starting to do. they're starting to trade not with u.s. dollars an saudi arabia in the middle east and how insane it is. with cap and trade, what we're doing with them with our dollar and oil and what they dollar and oil and what they do that dollar that we give@@@

the next generation of brink's home security. call now. glenn: back with "wall street journal" senior economic writer stephen moore. steve. you're a reasonable guy. you're a smart guy. you're a cautious guy. if i hear one more person say, oh, this talk about one world currency is crazy, it's not going to happen and our dollar is fine, if i hear one more person say that to me, i think

i'm going to go nuts. we're hearing it from everybody. talk to me a little bit about china and japan and brazil. what are they doing right now? >> well, here's what's going on, glenn. it is actually a very simple economic picture to describe. we're not producing much in america, because we have such high tax and regulation, made worse by the way by cap and trade, so we're importing all these goods and services from abroad, from china and japan and so on, so we're running a massive trade deficit. we provide them with dollars. what do those countries do with those dollars? they are basically buying all of our bonds, and so it is this vicious circle of we are basically becoming indebted to every nation in the world, and as i said, it's going to be made a lot worse with higher taxes and higher regulations that are coming that. is depressing the value of the dollar, as we have seen over the course of the last thee or four months and that's why i think you are not as crazy as i first thought you were.

i think we are moving in the direction of people totally losing confidence in the dollar and looking to alternative currencies, maybe gold. >> i just want you to know, this is the neckline slimmer, and it's made in china. made in china. this is what we're doing with our dollars. timothy geithner is over in saudi arabia, and he's trying to let everybody know that our dollar is totally fine. can you explain the insanity here of a country that has as much natural resources as we have taking our money and sending it overseas, buying these natural resources that we have at 8 times what it would cost us if we used our own resources, and then borrowing those same dollars that we just sent this them? >> well, you know, the thing that is so frustrating about this, quote, energy bill, what do they call it, energy independence bill that we just passed, there is virtually no money in that bill for natural gas, for drilling oil offshore

where we have huge amounts, more oil than saudi arabia. there is no money for nuclear power, so this is not an energy ingdz pence bill. it is a bill that basically shuts down our energy production and it will make it improblem, glenn -- think if you are a car company trying to recover or a steel company or chemical company or utilities company or light manufacturer, how will they compete on a global scale when we're doing all these things to our economy? glenn: steve, thank you very much. i appreciate it. we'll talk again, my friend. the one thing i want to squeeze in here before the final note, i didn't have a chance to talk to you about sarah palin while i was on vacation. do not count this woman out. i think, you know, the mainstream media doesn't understand. i don't think a lot of people understand the paradigm is changing. i think this woman is -- she is either crazy or she's brilliant, and i would put my money on brilliant. i believe she understands the

change of the mood in the system, the two-party system that i see democrats and republicans going this ain't working. i think she sees that coming. i think she's -- i would like to make a challenge. sarah, why don't you lead the d a hoveround cap and trade. power chair, where would you go next? the statue of liberty ? the grand canyon ? the family picnic... it's all possible with a hoveround.

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glenn: during the bowed cast today we got sad news.

we are saying so long to obama's car czar, steve ratner. we never knew you, mainly because you never do interviews ax new car is czar is on the