From Thursday night’s Fox News All-Stars.

On how the capping of the oil leak will play out for the Obama administration:

It does remove a drag on the presidency.
The fact that we could see every day the gushing was like America held hostage in the late ’70s. It was a symbol of the administration’s helplessness, the ultimate contradiction of the Obama ideology, that the government can be competent, do stuff, help you, etc. It was a rebuke right out there every day.
So when you remove that, and I think in time — and it’ll be perhaps not in time for the election this year, but in time — if this is successful – and that’s a huge if – [it] will fade from memory and I’m not sure it‘s going to have a lasting impact on Obama, particularly in 2012.

On the passage of financial reform:

Well, the place to start when asking what it means is to see what Senator Dodd, the chairman, the author of this said a month ago about the bill: “This is about as important as it gets. It deals with every aspect of our lives.” And then he adds: “No one will know until this actually is in place how it works.” Well, that gives you a lot of confidence!
The fact is there are hundreds of regulations that are going to be as a result of the bill that have not been written. They are going to be lobbied and litigated. The big banks who have the big lobby operations and the big lawyering operations are going to have the upper hand here. Every comma, every adjective will carry hundreds of billions of dollars worth of importance over time.
This is a gift to the big banks over the smaller institutions that don’t have the same lobbying and lawyering facilities.