By Bill O'Reilly

As you know, if you watch us often, we're not in the business to small ball Barack Obama. We don't nitpick, we don't play gotcha with the President. Of course, we're critical when his policies don't work. We have given him credit in the war on terror but we have hammered him over the economy.

All and all "The Factor" has been fair to Mr. Obama.

But now, something has arisen that is very disturbing and it directly involves the President and his beleaguered Attorney General Eric Holder. There's no question that someone in the Obama administration is leaking national security secrets to the "New York Times."

The best example was the "Times" article on how the USA is conducting espionage against Iranian nuclear facilities. That leak was extremely damaging to the United States of America and whoever did it should go to prison for a long time.

Under pressure, the Obama administration has announced it will investigate the leaks and they've appointed two U.S. attorneys. Rod Rosenstein who was nominated by President Bush the younger and serves in Maryland. And Ronald Machen an Obama guy who serves in Washington, D.C.

The problem with Machen is that he has given money to Barack Obama, has worked on his campaign and owes his career to the man. I mean, come on if the fix isn't in on that appointment, there is no such thing as a fix.

Are you telling me with hundreds of U.S. attorneys, Machen is the guy to do this? It's unbelievable and it's arrogant. Do the Obama people think I wasn't going to report this and other honest press people weren't going to mention it?

This is shades of Richard Nixon who tried to get away with Watergate by having his cronies like John Mitchell investigate it. "Talking Points" is not equating today's national security leaks with Watergate. But the investigation blueprint is the same as Nixon's.

President Obama has to realize that he is in trouble; that his re- election might not happen. The economy is bad and the President's policies in that arena haven't worked. Americans know it. So, Mr. Obama can't afford a scandal of any kind.

That's why Attorney General Holder isn't giving up the Fast and Furious documents. And that's why the investigation into the national security leaks is being handled in an unprofessional way. Every fair-minded person knows that independent council needs to be appointed to look at the leaks. And that person should come from outside the government.

And that's "The Memo"

Pinheads & Patriots

As you may know, I don't think, I do not think that rap music is a good influence, a positive influence, on children and teenagers. Much of it is coarse, crude, violent. But one of the first rappers, Ice T, disagrees.

(BEGIN VIDEO CLIP)

ICE T, RAPPER/ACTOR: It's brought -- brought the races together, put Barack Obama in the presidency. You know, if it wasn't for rap, white people wouldn't have been so open to vote for somebody like Barack Obama. But it was hip-hop 30 years -- 20 years ago that got people to -- willing to vote. You know, there's only 10 percent black people in the United States. White people voted for Barack.

(END VIDEO CLIP)

O'REILLY: By that thinking, disco put Bill Clinton in the White House. I'm not buying it. With all due respect to Mr. T, the ice man not the Mohawk guy, he's a “Pinhead” for that analysis. Rap music had nothing to do with the election of Barack Obama.

— You can catch Bill O'Reilly's "Talking Points Memo" and "Pinheads & Patriots" weeknights at 8 and 11 p.m. ET on the Fox News Channel and any time on foxnews.com/oreilly. Send your comments to: oreilly@foxnews.com.