Updated

This is a partial transcript of "The Big Story With John Gibson," March 7, 2007, that has been edited for clarity.

JOHN GIBSON, HOST: The big entertainment story, Rosie O'Donnell is ranting and raving once again, this time she's bashing us, us here at FOX NEWS. The nerve! But "View" co-host Elisabeth Hasselbeck was quick to take our side against the big bully.

(BEGIN VIDEO CLIP)

ELISABETH HASSELBECK: When I hear the news I just want to hear the truth. I just don't watch that Newshour. I like FOX NEWS.

ROSIE O'DONNELL: Boy, I knew that was coming. The Scooter Libby was mentioned like you know 1000 times more on every other channel besides FOX NEWS. So, it's skewed.

HASSELBECK: FOX NEWS gives different opinions on all subjects.

O'DONNELL: All right, I love you and I disagree.

HASSELBECK: Women who are supposed to be about women to say just because some (INAUDIBLE) that's (INAUDIBLE) in the other way. We have to be very specific to that.

UNIDENTIFIED FEMALE: It's not about the women, it's about the men who hired them. And I think Rupert Murdoch is not a woman.

HASSELBECK: Women who hire these women, that happens.

O'DONNELL: Ok, but I do think that Greta van Susteren's credibility in my mind went down a lot when she got a face lift.

(END OF VIDEO CLIP)

GIBSON: Ouch! Greg Gutfeld is the host of the FOX NEWS show, "Red Eye." Be sure to watch that at 2:00 a.m. eastern every night. So Greg, first of all, Greta, I mean I just have to say, I can't imagine how her credibility could be harmed by the fact she had a little eye lift on her eyelids. But what's got into Rosie?

GREG GUTFELD, HOST, "RED EYE": Well a couple of things. Well she's hanging upside down, apparently she's been very depressed and she treats her depression with inversion therapy, which means for like 20 to 30 minutes a day she hangs upside down like a fat lesbian vampire bat. So that can't be good for you.

GIBSON: Let me put this up on the screen, Rosie O'Donnell doesn't like us, FOX. We're so crushed.

GUTFELD: It should make you feel so good that people at "The View" hate you, because if there is a hell on earth, it is “The View”. And the thing is, before FOX all you had to do as a news person was present your elitist assumptions about the world. And then when FOX came on it made people like Barbara Walters pretty much irrelevant and they feel irrelevant and that's what makes them so angry.

GIBSON: You know I am an aficionado of Rosie attacks. I watch them very carefully and some of them she seems to have worked up to it, over a period of weeks and months. She's marshaled her facts. This one seems to be kind of off the cuff. This was like just elbows flying around at a hockey game.

GUTFELD: It's what a bully does. As long as she doesn't sit on you, you're ok. She's a very depressed person, yet she bullies people, but she doesn't see the connection between her own hateful manner and the way she feels about herself. I think she needs a better psychiatrist and she should stop hanging upside down.

GIBSON: Why would she be so depressed?

GUTFELD: Well she blamed it on the Columbine massacre. She said that ever since the massacre she's been depressed. Here is a case of narcissistic behavior where she takes a tragedy that affected others and made it all about her. Sure, 13 people died but she's really depressed.

GIBSON: So does this feel to you like we're on her list like Donald Trump was on her list and we're going to get more of this?

GUTFELD: I hope so. If you get on Rosie's list it's the highest compliment, it really is. I think you should be proud, very proud.

GIBSON: All right, Greg Gutfeld, host of the FOX NEWS show "Red Eye." You can see it at 2:00 a.m. eastern here on the FOX NEWS CHANNEL, five nights a week. And by the way, a special shot out and thanks to Elisabeth Hasselbeck for sticking up for is. Way to go, Elisabeth.

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