This is a rush transcript from "The Five," October 2, 2012. This copy may not be in its final form and may be updated.

GREG GUTFELD, CO-HOST: Love that Tom Petty.

So, it only took three weeks for administration to agree the Libya attack was not spontaneous. You got to wonder where Obama finds these staffers. I haven't seen this many clowns since Ringling Brothers had a job fair.

I return to my big and only point really -- who was the source who said the video caused all of this? A video no one heard of until after these attacks.

It's not a question. It's a scandal because it points to intellectual corruption of the highest order, a deep desire to blame America for evil in the world while excusing its real perpetrators. I'm breaking this paperclip I'm so angry. It's a question that changes an election.

But we can't forget how the media enabled all of this. Although I remember one guy getting it right.

(BEGIN VIDEO CLIP)

GUTFELD: Freedom of speech is only valuable if you exercise it. You're abdicating it in service to your election prejudices. You sold yourself cheap. You're setting a horrible precedent. You're destroying your profession and damaging this country's tradition of free debate.

(END VIDEO CLIP)

GUTFELD: I probably should have changed the shirt, because I'm wearing the same thing. But he is gorgeous, nonetheless.

But others hence have picked up the ball.

(BEGIN VIDEO CLIP)

PAT CADDELL, DEMOCRATIC STRATEGIST: We have a First Amendment because -- not because the Founding Fathers liked the press. They hated the press. But they believed and Jefferson said that in order to have a free country, in order to be a free people, we needed a free press.

And that was done with implicit understanding that somehow the press would protect the people from the government and the power by telling somehow allowing people to have truth. That is being abrogated as we speak.

(END VIDEO CLIP)

GUTFELD: So, at least one sharp Democrat and I agree. We don't have a press. We have enablers, encouraging the administration to be inefficient and amateurish.

It's no wonder the media wants Benghazi-gate to be gone, for it exposes their devotion to their chosen leader.

Where is the "60 Minutes" in-depth examination? The New York Times Magazine expose? What about Highlights? I love Highlights.

Hello? Anyone?

Look at the Univision Fast and Furious investigation. It's brutal. Now, even Mexico covers U.S. news better than U.S. networks.

Yet, the media is just another lefty pipeline extending from the faculty lounge, the nation's overeducated grad student who embody the liberal orthodoxy, generally going academia themselves or government or media. And they feed off each other, switching on and off. It's no wonder they get it wrong and why we wipe the floor with them.

What's wrong?

DANA PERINO, CO-HOST: Wow!

GUTFELD: I'm fed up.

PERINO: I can tell.

GUTFELD: I don't know if I'm fed up. I might just slightly angry. Or I could be just irritated.

PERINO: I thought they are great points.

GUTFELD: Oh, do they? Well, let me ask you this -- if this were to happen under Bush?

PERINO: Oh, Lord. Honestly.

BOB BECKEL, CO-HOST: How many times are we going to say that?

PERINO: Because it's true. Hypocrisy really stinks. One of the things that people don't realize is when you're -- the press secretary, they don't end the briefings themselves.

GUTFELD: Right.

PERINO: They start the briefing. They call the briefing. Then the senior wire reporters, he is the one or she decides when the briefing ends.

I would never -- first, I never gone to the podium and said that in the first place. Secondly, if I had, I don't think I would have gotten out of the room because they all would have been there pressing me as they should. The press secretary's job, 50 percent of it: defend the president to the press. The other 50 percent: defend the press to the president. So that they have the access they need to do their jobs.

If they're not going to do their job, then what's the point?

GUTFELD: Exactly.

Andrea, I have a theory. The last four years the media has gotten, they loss muscle memory. They're athletes and you use it or lose it, because they got their guy in power, they don't know how to chase a story anymore. Except for precious few.

ANDREA TANTAROS, CO-HOST: Well, did they ever have a muscle to begin with? We still don't really know who President Obama is. They wanted him to win.

I would say, Greg, that a lot of reporters were geeky growing up. And now, the cool kid, President Obama, they want him to like them because inherently they're nerds. I would say that, but I'm sure the blogs would go crazy. So I'm definitely not going to say that.