Mike Wallace is set to take a quasi retirement from the news business as the veteran CBS broadcaster, who turns 88 on Tuesday, officially becomes "correspondent emeritus" at the end of this month. So on the way out, he's speaking his mind.

One of those in the cross hairs, actor and Scientologist Tom Cruise and he flat out says, "Tom simply does not know what he is talking about."

The anchor has slammed the actor for campaigning against anti-depressants and psychiatry.

The 60 Minutes host, who has long suffered from crippling depression, claims Cruise can't credibly speak about the issue, because he hasn't experienced it. As a devout Scientologist, the actor doesn't believe in medication or counseling to treat depression.

Wallace says, "Tom simply does not know what he is talking about. Scientology is a different thing and God bless him. "But he doesn't know his tail from third base about depression. Simple as that."

The newsman recently admitted that he attempted to take his own life two decades ago and claims he has gone public about his suicide attempt in order to help others. He adds, "I had never come clean about the suicide business and I thought to myself, 'Yeah, look, I've had 20 extraordinary years since that episode.'"