Updated

This is a rush transcript from "The Five," May 10, 2013. This copy may not be in its final form and may be updated.

GREG GUTFELD, CO-HOST: So, you know there is a cover-up of a cover-up when an investigation is called a witch hunt. The New York Times editorial board, which is more like President Obama's dog, Bo, calls Benghazi a Republican obsession saying, quote, "Common sense and good judgment have long given way to conspiracy-mongering and relentless effort to discredit President Obama and former Secretary of State Hillary Rodham Clinton."

And so, they aligned to protect their prince and, thus, avoid the most obvious point, who push the damn video? It's the only question that scares them.

And you know they're scared when they ask you to move on, nothing to see here, folks. As "The Times" notes, "The real scandal is that serious follow-up on security in Libya is going unaddressed."

Actually, no. The real scandal is who pushed the damn video? But you can't answer that without heads rolling, better to pretend you care about security of the consulate whose initial pillaging left you cold because your guy was in charge.

You are going tell me, Mr. Editorial Board, that you wouldn't call for blood if it were President Romney? Remember your big stink about his tax returns.

This has now become a school yard pickup game. The media picks sides. FNC, ABC, CBS is on one side, MSNBC, Jon Stewart, The Times are on the other. And we are the underdog. The rebels. The Hoosiers, it's Rocky, it's bad news bearers. It's bosom buddies.

But why does it have to be a school yard? Grow up and do your job, media. And not for nothing, FOX News really is the vanguard in advancing formation, the first to land and soften up the ground so everyone else can come in and do their jobs.

It's a shame Jon Stewart is in the rear with the gear.

ERIC BOLLING, CO-HOST: Can I take exception to your full swing?

GUTFELD: I want to ask Juan a question. Isn't the media complicit in a cover-up of a cover-up, and if you deny it, aren't you covering up the cover-up of the cover-up? And by saying no to that, aren't you then covering up of the cover-up of the cover-up, of the cover-up?

JUAN WILLIAMS, CO-HOST: Perry Mason, I'm guilty, I'm guilty, get the shackles, I'm telling you.

GUTFELD: I know.

WILLIAMS: You know what? This is an amazing moment on "The Five." I think I agree with you.

GUTFELD: There you go.

WILLIAMS: I'm serious. I think the media --

KIMBERLY GUILFOYLE, CO-HOST: You've done that twice today.

WILLIAMS: Really? I don't -- it must be the drink. You know, Bolling has an effect on me.

But I got to say something. I think the media should have been on this story earlier. I think the transparency is the part. You got to demand you produce the documents and give everything up front.

I understand that you are dealing with the CIA.

GUTFELD: Right.

WILLIAMS: You're dealing with defense, intelligence, OK. But at some point, given that they were deaths involved, I think the media has the responsibility to go hard at this story to be an absolute pit bull, you talk about a watchdog. Be a pit bull, because you know what? I disagree with my colleagues here. I don't think it's been proven to be involved with lies and conspiracies.

But the media, wow, why aren't you out there pursuing the damn story?

ANDREA TANTAROS, CO-HOST: Wait a minute, if you just said, why wouldn't they jump in to pursue the lies and the conspiracy --

WILLIAMS: I didn't say there were any lies and conspiracy. I don't think -- if you show it to me, if you see evidence, great. But there is no evidence of that.

GUILFOYLE: How can you say that? I mean, there's so much evidence.

(CROSSTALK)

WILLIAMS: If you cite it to me. Cite it to me.

GUILFOYLE: What about the edits?

BOLLING: Two lies, to conspiracy. First one was blaming the video.

WILLIAMS: That's not a lie.

BOLLING: It absolutely is a lie, to stand in front of the caskets and blame the video, that's a cover for Obama.

Hiding who gave the stand down order is cover for Hillary Clinton.

Can I just point out something?

GUTFELD: Sure, yes.

BOLLING: You put CBS and ABC on our side. Maybe on this one instance that may be the case. But, normally, they are always on the other side.

GUTFELD: Benghazi on one side.

(CROSSTALK)

WILLIAMS: He needs the glasses.

GUTEFLD: I wanted to roll some tape from the press conference.

BOLLING: It doesn't roll.

GUTFELD: OK, let's se the media coming to play.

(BEGIN VIDEO CLIPS)

REPORTER: That is not a single adjustment as you said back in November. That is a major, dramatic change.

REPORTER: It seems like this there has been fuel added to the fire if this was such a minor issue.

REPORTER: Is not that political motivation then?

JONATHAN KARL, ABC NEWS: Those subjects were taken out of the CIA talking points at the direction of the White House.

REPORTER: Is the president satisfied with the way the administration handled this?

REPORTER: It seems clear that there was an influence by the White House.

REPORTER: Your initial characterization of the White House was involved (INAUDIBLE) a mischaracterization.

(END VIDEO CLIPS)

TANTAROS: My question is this, why did it take months later a story by Jonathan Karl for them to behave like this. I think they were pretty angry, Greg, based on that private meeting that Carney had, and this has vindicated Fox News and the excellent reporting, I just to point out, James Rosen, Catherine Herridge, Jennifer Griffin, Adam Housley, Bret Baier, Steven Hayes, the "A" team, they followed their lead.

GUTFELD: Last word?

GUILFOYLE: Well, I was just going to say, New York Times is liberal media and propaganda on the administration and they are unwilling, despite evidence to the contrary, to do their job.

BOLLING: Don't go yet. I can answer your question, Ands. What took them so long? Joe Scarborough did it for us this morning, that fake Republican this morning said, if the far right wasn't -- didn't overplay their hand, we would have covered it. What hell does that mean?

(CROSSTALK)

WILLIAMS: I'll tell you what it means. When you politicize things, in fact you gave the media an out, because they said, that's just a political fight in the middle of a campaign.

TANTAROS: It isn't a political fight.

GUTFELD: All right. I got to wrap this up. What a lively segment.

GUILFOYLE: You got a face from here?

GUTFELD: Kimberly, am I going to have to come over there?

GUILFOYLE: Please do.

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