So what Billo says, is that it's OK to lynch Michelle Obama under certain circumstances?

I don't see how else you can interpret this:

"I don't want to go on a lynching party against Michelle Obama unless there's evidence, hard facts, that say this is how the woman really feels. If that's how she really feels -- that America is a bad country or a flawed nation, whatever -- then that's legit. We'll track it down."

The most charitable explanation is that for some reason, Bill O'Reilly suddenly decided that instead of just shooting off at the mouth, he should find out what Michelle Obama actually said before going off the deep end. But that is so out of character for Billo, and the use of the phrase "lynching....unless...." -- etc. is so clearly beyond the pale.

The other day, Meredith Viera had to apologize because Jane Fonda used the "C" word on national television to an audience of largely "C"-Americans. But Bill O'Reilly is no doubt going to be able to say that he'll go on a "lynching party" against Michelle Obama if it turns out that she feels America is a flawed nation -- and get away with it.

And when some right-wing racist angry nutball decides to take a shot at her, Billo will claim he was in no way to blame.

Because everything is OK if you're a Republican.