'This Week' Transcript: Chicago Mayor Rahm Emanuel

NOONAN: Oh, I don't know. Look, there's a thing percolating, coming to a boil on the Republican side. It is this opposition to, this resentment to, and a desire to overthrow this permanent Washington political class. You see it this week in the Peter Schweizer book. You saw it a few months ago in the Gretchen Morgenson book. Everybody's reading them.

The people who come to Washington as regular, say, middle-class folk stay here for a while, serve for a while, as they put it, and wind up 10 or 20 years later extremely rich men and women...

(CROSSTALK)

DOWD: I agree with Peggy on this. The problem we have is, is that Newt Gingrich, who's a very smart guy -- he's done very well in the debates -- is a symptom of a Washington problem. He says I don't lobby, but he's paid lots of money not to lobby, but influence people.

(CROSSTALK)

DOWD: He started -- he left Congress not a -- sort of a middle-class income person, politician, and he became a multimillionaire in the course of the last 10 years. That -- now, does part of the party that wants an anti-Washington, antiestablishment, anti-candidate going to want somebody that became a millionaire basically by selling his influence?

AMANPOUR: But even -- even the conservatives -- I mean, even Fred Barnes of the Weekly Standard say it would be foolish to count Newt out. I mean, it looks like the conservative side is trying to grab on to him.

WILL: I don't think so. I didn't even finish my list. When the -- when the -- when the...

(CROSSTALK)

WILL: ... when the Bush administration was trying to pass an unfunded, large new entitlement, in the prescription -- grafting the prescription drug entitlement onto Medicare, who was out there saluting this as part of his service, I think, for big pharma? He denounces the Ryan budget as right-wing social engineering. He sits down to talk about climate change and cap-and-trade with Nancy Pelosi and others. The list goes on.

He was -- but on top of all this, there's the absurd rhetorical grandiosity. And here we can put up the statement we had from him a moment ago. You can read this. Here's a man who says, in fact, that he's -- essentially, he says he's only the only man in the Republican race who really deeply concerned about the Republican -- about the fate of the republic. Not true.

DOWD: The other thing, Christiane, I think to watch is Ron Paul.

AMANPOUR: I was just going to ask you about that, yeah.

DOWD: Ron Paul is -- right now, he's second in Iowa. He's second in New Hampshire. And of all the people that are in the top tier, he has the most passion behind his candidacy. I would not be surprised at all, seven weeks from now, that Ron Paul wins the Iowa caucuses and goes into New Hampshire and disrupts this field even more.

AMANPOUR: But, really, disrupt? Or will it just be sort of a one-off for Ron Paul if he wins Iowa?

NOONAN: Oh, it would be disruptive. When you win Iowa, you go into New Hampshire with a certain amount of momentum. We all know this. And no one has ever taken Ron Paul seriously. Therefore, when Iowa does, everybody will stop and say, "What the heck?"

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