'The Five' break down the fallout from the Nunes memo

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This is a rush transcript from "The Five," February 5, 2018. This copy may not be in its final form and may be updated.

JESSE WATTERS, CO-HOST: A Fox News alert, in case you're just turning on the news and haven't looked at the internet. The Dow had a dismal day, a dramatic record tumble of 1,175 points, erasing all the gains for the year. Fox Business senior correspondent, Charlie Gasparino, bring us up to speed on what happened. Charlie? All right. I guess we do not have Charlie. You guy's 401(K)'s and your investments getting slammed?

DANA PERINO, CO-HOST: This is the thing, so having been the press secretary that had the most dramatic stock market ups and down.

WATTERS: Yeah, what do we do?

PERINO: Everyone should just remain very calm. Probably buy, right, if you're being smart.

GREG GUTFELD, CO-HOST: Dana, the only thing lower than the stock market is Jesse Watters voice from the hangover he has.

(LAUGHTER)

(CROSSTALK)

GUTFELD: I saw you reading the teleprompter, and when you got to the numbers, your brain froze. You didn't know what to do.

WATTERS: That's why I'm not on Wall Street. I'm in television.

PERINO: I was trying to help you out.

WATTERS: I needed a lifeline there. All right. So what do we do? Do we sell, do we buy? I think everyone buys. No one knows why either that this thing is tanking. I guess.

KIMBERLY GUILFOYLE, CO-HOST: We have Charlie now.

WATTERS: Charlie, save us please.

GUILFOYLE: Save Jesse.

CHARLIE GASPARINO, FOX BUSINESS SENIOR CORRESPONDENT: This is called a puke, guys. There's nothing nice you could say about what happened here. What you have is the markets reacting to the possibility of higher interest rates, bigger deficits, leading to even higher interest rates, more inflation because the economy is revving up, and it's trying to digest all of that. As it's digesting that, it is getting sick. And you have what we've had over the last couple of weeks. I will say one thing, President Trump did a massive tax cut. When we do something that big, you may get some inflation but, guess what, corporate balance sheets should be better. We're going to get some job growth. That -- and our deficit should at some point, when the economy starts growing again at a 3.5 percent rate, which a lot of people think it will, that deals with the deficit which keeps down the interest rates.

So in my view, OK, I'm not an economist. I've been to a lot of these market corrections. But in my view, this thing is temporary. The one thing I will say, someone should tell Trump to stop talking about the markets. It's not a good thing to be touting the market going up because they always correct. I mean, from a political standpoint, he should stick to the economy, which obviously is getting better.

WATTERS: All right. Well, I don't think he's going to listen. I think he's going to continue.

(CROSSTALK)

WATTERS: All right. We'll take it from there. Thanks a lot. All right. Now to our other top story, much more important, it took 52 years, but the wait is finally over. Philadelphia finally Super Bowl champs.

(BEGIN VIDEO CLIP)

AL MICHAELS, NBC SPORTS: Brady under pressure. Launching one for the end zone. It's a jump ball and it's incomplete. And Gronk was the picker. And time runs out.

(END VIDEO CLIP)

WATTERS: Amazing game. I knew they were going to win. I called it. Predicted it on the show. We can even pull the tape. Eagles beat the Pats for the first time ever winning 41-33, first Super Bowl victory. Entire city of Philadelphia handling it, as you would expect, with class.

(BEGIN VIDEO CLIP)

(CHEERING)

(INAUDIBLE)

UNINDENTIFIED MALE: Eagles!

(END VIDEO CLIP)

WATTERS: Oh, God. All right. What a night for backup quarterback Nick Foles, absolute hero this post season, outplayed Tom Brady in Minneapolis, winning the MVP. Nick, I love you. Thank you. And God has certainly blessed the Philadelphia Eagles.

(LAUGHTER)

WATTERS: I love them. I love them. I love every player on the team. An amazing victory. Juan, let's just talk about the game for a second, and I want to play this highlight for you. This I think encapsulates everything. And a great line of the whole thing was Brady can't catch and Nick Foles can. Here's a little play they've dialed up for Brady. Little trick play. Right off his hand, OK? Guy can't catch. That was a critical possession right there. That would have been a first down and keep the drive alive. Brady can't do everything now. And then we have Nick Foles. They dialed up a flea flicker, that directs that flea flicker fourth and one right before the half. Fourth and goal, and that puts them ahead going into the second half. I think it takes a lot to call that play in that situation. Juan, what did you think?

JUAN WILLIAMS, CO-HOST: I just loved it. You know what's interesting to me about the Brady thing is that people are now criticizing Bill Belichick, the genius coach of the Patriots, because, you know, his quarterbacks hand was injured. It had been injured and he was been wearing gloves. I think there was no glove on the right hand last night. But, you know, to ask the guy to go out there and catch a pass at 40 years old and - - gosh, what if he had gotten hit, some linebacker came across and crunched him. It would not have been a celebration in Boston. But anyway, the other play in which both catches it, to me, I thought, boy, that's high risk, fourth down. I'm surprised they went for it. And then to do that, you've got to take your hat off to the Philly coach.

WATTERS: That's right. Doug Pederson had a great scheme and they executed it perfectly. Dana, your mascot theory, correct.

PERINO: I'm 6 for 6.

(CROSSTALK)

PERINO: Every year. Yes, 6 for 6. So follow me. What is a flea flicker?

WATTERS: When they like have the ball in the back and they pitch it to someone else.

PERINO: I've never heard that. I want to -- about the controversial touchdown.

WATTERS: Which one there's two?

PERINO: There were two?

WATTERS: Yeah.

PERINO: Where the one the catcher becomes the runner.

WATTERS: Yeah. He actually broke the play. We've got a lot of lucky calls.

GUILFOYLE: You mean the receiver?

PERINO: Receiver? Well, he caught the ball.

GUTFELD: This not yet the end, America. If you think you're watching.

PERINO: I don't know why Jesse came to me next.

(CROSSTALK)

GUTFELD: Can I talk about the most important thing in the night?

(CROSSTALK)

GUILFOYLE: People are like, I just became really stupid watching.

GUTFELD: I know. I want tell you about the worst thing from last night is the Philadelphia fan who actually ate horse poop. I don't know if you saw that

WATTERS: I don't think we have that. Hopefully we don't have that.

GUTFELD: This man will never had cordial relations again. He can't have a job or a family. You could look it up.

GUILFOYLE: Why would you bring that up?

GUTFELD: I'll tell you why I bring it up, because if you laugh when you watch these events, you're a hypocrite because we do these shows where we talk about Antifa and looting and how bad it is when you destroy public and private property.

GUILFOYLE: Right.

GUTFELD: And somehow we find this kind of behavior after sporting event acceptable. This is not acceptable behavior. You don't have any role in the team winning. It's not an achievement on your part. And go to destroy things is disgusting.

WATTERS: You don't know what it's like to be a Philly fan.

(LAUGHTER)

WATTERS: I think we're going to give them a little slack.

GUILFOYLE: I knew you were going to say that. I mean, they have been waiting for it for long to get some kind of victory here. Obviously, everybody knows that the Philadelphia Eagles fans, this is the way they roll. Win or lose, this is the way they roll. Yes. But as a former prosecutor, I'm not going to be hypocritical. In fact, I think it's inappropriate. We don't need to be lighting things on fire.

GUTFELD: Yes.

GUILFOYLE: We don't need to be flipping buses. But at least, unlike, you know, Antifa, they didn't stab a horse.

GUTFELD: Yeah, that's true.

GUILFOYLE: . but they ate from one.

GUTFELD: Yeah, they did something with a horse.

WATTERS: OK. Now let's talk about some of the performances. Pink, OK, she had the flu. And I think she paid respect to the red, white and blue. Here is her rendition.

(BEGIN VIDEO CLIP)

PINK, MUSICIAN: Home of the brave

(END VIDEO CLIP)

WATTERS: OK. So Greg, you didn't like that?

GUTFELD: Oh, no. How dare you. No, no. The one thing I don't like is when they change the note at the end to surprise you, like we're going to go high. No, I'm going low. But you know it's interesting is we didn't have the clip of her when she spit her lozenge out onto the head of a sick child. I couldn't believe she did that.

WATTERS: That is fake news.

(LAUGHTER)

WATTERS: What do you think of that performance?

PERINO: I like Pink and I like the guy that sang before, America the Beautiful.

WATTERS: That was a nice rendition.

GUILFOYLE: He was excellent.

WATTERS: Very nice.

PERINO: And I like the children's choir with him. I like it when they bring the community out for the game.

WATTERS: That was great. And I think we have some footage of Justin Timberlake. He did the halftime performance, and people liked it and some people didn't. Let's see it.

(BEGIN VIDEO CLIP)

(SINGING)

(END VIDEO CLIP)

WATTERS: So they had Prince out there in the hologram, what did you think, Juan?

WILLIAMS: No, it wasn't a hologram. In fact, that would have been -- apparently, Prince objected. That's what he said. He said that if people did that he would consider it demonic. He doesn't like it. HE doesn't think it's a good idea. He thinks when Natalie Cole was doing it with her dad, Nat King Cole, he thought it was wrong. He said if he was supposed to play with Duke Ellington, he would have been alive at the same time. But I happen to think the holograms are pretty cool. I remember being in Vegas and seeing that Michael Jackson thing, and this is unbelievable.

GUTFELD: That's actually Michael Jackson.

WILLIAMS: Well, I think what they wanted to do, but given that they knew people were going to criticize it, they just went with the screen. It was pretty good. I don't think it was like the most memorable halftime show. It didn't match the equipment malfunction.

GUTFELD: See, now to that point, I think it would have been more fair because J.T. was on his best behavior. The hologram should have been Janet because why is he there and she's not there. That strikes me as a bit sexist. And the wardrobe was like straight out of a house party from the '90s. I didn't understand it.

WATTERS: He wanted another nip slip.

GUTFELD: I can't say. Who would want that? I just think it's unfair that he's there and she's not.

WATTERS: Let's look at some of the ads, here's the Giant's ad which got a lot of attention. Let's see that one.

(BEGIN VIDEO CLIP)

UNINDENTIFIED MALE: I'll tell you something, this could be love because I've had the time of my life, though I never felt this way before.

(END VIDEO CLIP)

(LAUGHTER)

WATTERS: Kimberly, what did you think?

GUILFOYLE: I loved that move.

WATTERS: He did.

GUILFOYLE: Well, no, I would like to do it.

WATTERS: You like to be hoisted up like that.

GUILFOYLE: Yeah. It's fun, right?

WATTERS: Very, very smooth move.

GUILFOYLE: No, I thought that was a really good commercial. In fact, the dancing was better than the Justin Timberlake piece. I don't know. You know, I didn't think like the Justin Timberlake thing was that good. Prince performed better.

WATTERS: OK. You liked the Justin Timberlake performance.

PERINO: Yeah. But I apparently -- I keep liking things that nobody else likes. Like the Joe Kennedy speech. So, I'm 2 for 2. But I just thought it was entertaining. I liked that ad. The Mannings were pretty funny.

WATTERS: That was a good ad. I think it cost about $5 million for that one.

PERINO: Maybe they could put that into their recruitment for next year team.

WATTERS: I think so. I think the Giants needs a little help. That's good, Dana, that you actually knew the Giants for that ad.

GUILFOYLE: Excellent move.

(LAUGHTER)

WATTERS: All right. Stay right there, much more to come on The Five. Breaking new developments on the memo when we return.

GUILFOYLE: All right. That we know about.

(COMMERCIAL BREAK)

(BEGIN VIDEO CLIPS)

REP. ADAM SCHIFF, D-CALIF.: The interest wasn't oversight. The interest was a political hit job by the FBI in the service of the president.

The goal here is to undermine the FBI, discredit the FBI, discredit the Mueller investigation, do the president's bidding.

(END VIDEO CLIPS)

GUILFOYLE: Adam Schiff, the ranking member of the House Intelligence Committee, still on a tear about the GOP memo that alleges the FBI and DPJ abuse the FISA process to surveil former Trump campaign advisor Carter Page. Democrats want their own version out to the public and there could be a vote on that soon. Meanwhile, the president called Schiff one of the biggest liars and leakers in Washington who must be stopped today. The congressman is firing back. Mr. President, I see you've had a busy morning of executive time. The primary author of the memo, Devin Nunes, piling on his Democratic colleague:

(BEGIN VIDEO CLIP)

REP. DEVIN NUNES, R-CALIF.: If you look at what they've done over the course of the last couple of weeks since we put together our memo so that we could make sure the American public discovered the FISA abuses that occurred, they continue to leak out bits of pieces of information to create narratives that quite frankly have one thing in common, they're always false. Mr. Schiff knows that he's spreading false narrative there. But that's not new for him. He's spread false narrative the entire time.

(END VIDEO CLIP)

GUILFOYLE: OK. So the president, Dana, calling him a liar and a leaker who must be stopped today.

PERINO: I know. So over the weekend I tried to take a step back and I figured let's just -- I'm going to let all of this settle and then read a couple more things when I start on Monday just to see where people are. And I feel like it's -- we're at the same place that we were on Friday except that the Democrats have sort of advance their agenda by, one, responding to the president the way they had after he -- punching or counter punching, I have lost count. I do think that this question of whether the underlying documents are going to be revealed is still an open question. On Friday night, Devin Nunes was on Bret Baier's show for an exclusive interview, and Bret asked him if he had read the underlying documents and he said no. But that Trey Gowdy had -- the congressman from South Carolina, overseeing the oversight committee. And I'm wondering about if the intelligence committee folks are not all read in on exactly what's happening underneath, should those documents actually be released to all of us because I don't know what the context is and I don't know if it's a really good idea to start disseminating to the public information that is supposed to be for investigations. I think it's kind of dangerous. The other thing, I just feel like a lot of the timeline doesn't make sense to me. Especially that the memo talks about Carter Page and the FISA warrant in October 2016 when he left the campaign a month before, in September, and then according to the timeline the counterintelligence investigation started three months before that. So I'm not even sure what Carter Page could have even told anybody on any sort of wiretap that would have been relevant to the Trump campaign if he'd left. So, I think there's a lot of open questions.

GUILFOYLE: OK. So Greg, Dana thinks, perhaps, it might be an imprudent escalation to then try to now release the Democratic side and go back and forth.

PERINO: I think the Democrats should be allowed. I just wonder about these underlying documents.

GUILFOYLE: The underlying documents like perhaps, obviously, could have some national security implications.

GUTFELD: First, to state the obvious, this is another example of team sport politics. Reminds me -- I think we did a segment on The Five, what was the color of the dress and some people saw the color of the dress as gold.

PERINO: One was gold -- I think blue.

GUTFELD: And the other was blue. So one side will always see this one way, one side will see the other. Having said that, Andrew McCarthy, I think really nailed it down in National Review. He responded to Gerald Nadler's letter and he says it's not about Steele being reputable in his dossier. It's not about him being -- he's an upstanding guy. It's not about that. It's about his sources. Remember, he didn't write the dossier. He simply delivered it. So the FBI and the DOJ should have been more -- put more emphasis on that because anybody, a capable person, could put together a report on you with unvented sources. Are you happy that the government used a capable person -- that that's OK with you that they used anonymous sources saying crappy stuff about you. So that's important. But the think that kind of gets me is the Dems -- you keep hearing like, we're releasing this memo, it's a constitutional crisis. How can that be a constitutional crisis and trying to unseat a president in a general election not be a constitutional crisis? I think that -- I think trying to steal an election from the American public is a constitutional crisis. Releasing and, obviously, a memo that has some kind of political opinion in it, let's be honest, it's done by a Republican, there's two sides. So, that is far from a crisis. But somehow generating and ginning up this scandal to steal an election, that's a crisis?

GUILFOYLE: I agree.

GUTFELD: Or could be a crisis.

WILLIAMS: Wait a second. Who ginned up a scandal? The scandal was that the Russians interfered in our election.

GUTFELD: There's no collusion.

WILLIAMS: Oh, I don't know but I'm just telling you that's the real.

(CROSSTALK)

GUTFELD: The Russians interfere in everything. And -- no, we know that.

WILLIAMS: So we should minimize it?

GUTFELD: No, no, this is about collusion. I'm waiting for the collusion.

WILLIAMS: OK, I'm just saying.

(CROSSTALK)

GUTFELD: If you don't have a clear-cut case on collusion and you try to impeach Trump and something happens, you've got a big problem on your hands. It's 67 million people who are going to wage war.

WILLIAMS: Let me tell you, I mean, you can portray this as some kind of coup, but the coup would have been if, in fact, we have a candidate running as an agent of a foreign government.

(CROSSTALK)

GUTFELD: But you have nothing there.

GUILFOYLE: There's no evidence.

(CROSSTALK)

GUTFELD: What ifs are beautiful, they are.

WILLIAMS: There's no what if without Russians interfering in this election.

GUTFELD: They interfere in everything.

WILLIAMS: There's no what if about the Russians favoring Donald Trump.

(CROSSTALK)

GUILFOYLE: You can't blame the president for that. He didn't call up and say, hey, Russia, interfere with the election and can you choose me over Hillary Clinton.

WILLIAMS: Kimberly, what about Donald Jr. going right to Trump Tower with a Russian and saying I'm looking for dirt on Hillary Clinton.

GUTFELD: Where did the dossier information come from? Russians.

WILLIAMS: Oh, please. Let's go back to Dana's point.

(CROSSTALK)

GUILFOYLE: I want to make sure he's still alive.

WILLIAMS: Totally makes no sense. Devin Nunes' attempt to say that the timeline bits, and this is the basis, because, guess what, they already were looking at Carter Page from 2013.

GUTFELD: And why were they looking at him? He was actually cooperating with the FBI.

WILLIAMS: No, because the Russians tried to recruit him, Greg

GUTFELD: Yes, and he cooperated. He cooperated.

WILLIAMS: Let me just say.

GUTFELD: He may not be the brightest guy.

WILLIAMS: Greg, you are looking under the table in order to avoid.

GUTFELD: How dare you, why would I look under the table?

(CROSSTALK)

WILLIAMS: Why not release the Democrats. You guys are always for transparency.

GUTFELD: I'm for it. Do it.

(CROSSTALK)

WILLIAMS: But Donald Trump says he is vindicated.

GUTFELD: That's straw man, Juan. That's straw man.

WILLIAMS: Oh, Donald Trump is a straw man?

GUTFELD: You're creating a straw man argument. I'm for releasing the memo.

(CROSSTALK)

GUILFOYLE: My goodness, this is getting crazy. So -- make less sense, Jesse.

(LAUGHTER)

WATTERS: The Obama officials used fake information and got the court to justify spying on the Trump campaign. They lied to the court, Juan. It's a lie of omission.

(CROSSTALK)

WATTERS: The dossier was the reason for the spying.

WILLIAMS: They did not.

WATTERS: The dossier was kept from the judge. They didn't say it was paid for by Hillary.

WILLIAMS: Wait a second. I thought the argument was.

(CROSSTALK)

WATTERS: No, they didn't say that the dossier was paid for by Hillary. It was written by Steele. Why didn't they tell the judge that, Juan?

WILLIAMS: They did.

WATTERS: Because they knew they would never have gotten the spying done if it wasn't for that. That's why.

WILLIAMS: Do you know how weak you are? Because.

WATTERS: Weak? We just won the Super Bowl.

WILLIAMS: I'm all for that.

(LAUGHTER)

(CROSSTALK)

GUILFOYLE: Wait. Again, we must separate the fans from the players.

WATTERS: How weak you are, Juan. It is not a scandal on your side. Why is everybody getting demoted? Why is everybody retiring early?

(CROSSTALK)

WATTERS: Strzok, Page, all these people -- McCabe, all these people on that side must be guilty of something because they're actually now getting in trouble. The other thing is you're spying on Carter Page for all these years because of collusion.

GUILFOYLE: Why?

WATTERS: Yes, hasn't been charged.

GUTFELD: And he was cooperating.

WATTERS: He hasn't even been charge, Juan. Where is the dirt? There's no dirt. Now there's more memos coming, so that's why you guys are getting very nervous.

PERINO: But it is not remotely clear, well, none of it is, but that anything that the government would have been listening to with Carter Page, which she's not even on the campaign anymore, would even relate back to the Trump campaign or the Trump family in any way because he wasn't involved. So maybe there was a problem in getting the warrant and that needs to be looked into, but I also think that the Trump family at this point, I don't know why you would be concerned about Carter Page being listened in on because he wouldn't have known anything.

GUILFOYLE: If you want to learn more about Carter Page, then you should watch the Ingraham Angle tonight because he's going to be with Laura. That's a piece, isn't it? I'm going to flea flick of this. Ahead, Trey Gowdy talked to a lot of people with his surprise decision to leave congress and his explanation might surprise you.

(COMMERCIAL BREAK)

GUTFELD: Trey Gowdy is leaving Congress, apparently to spend more time with his hair. I kid. I like the guy. But look at him over the years: He's got a Mohawk, goatee, sideburns, then a beard, the he adds glasses and gets rid of the beard. The guy has more looks than Lady Gaga.

Sunday, Gowdy says he's leaving politics because he's lousy at it:

(BEGIN VIDEO CLIP)

REP. TREY GOWDY, R-S.C.: I was a pretty good prosecutor, I think, but I've been a lousy politician.

I see multiple sides of a single issue, and the fact that someone disagrees with me does not make me challenge their love of the country. It doesn't make me believe that they're corrupt. I've got a lot of friends on the other side of the aisle.

I think the manner in which we get places matters, and in politics, too often, winning is the only thing that matters. And look, every hero I have has lost, every one of them. So losing is not the worst thing in the world. Not knowing what you believe and not caring enough about it to fight for it, that's the worst thing in the world.

(END VIDEO CLIP)

GUTFELD: Now underneath that cowlick, he has a point. He's lamenting tribalism: the name calling, the smearing of intentions by mind-reading adversaries, all driven by team sport politics.

Take the memo controversy. It was the Super Bowl for political Poindexters. Everyone took sides even before reading the damn thing. Of course, no one in the media seemed to mind tribalism before, when only one side fought to win. For the left, the politics was always personal and deemed their opponents, the right, as evil. Now the right has learned from the left, and Republicans are now as feisty as the lefties of old, fueled by a president who may be the least ideological one I've ever seen.

The result: A fiery feedback loop where one side accuses the other of divisiveness, which leads to endless counter accusations of the same thing.

Yet, simply agreeing that we're all guilty of this might help solve the problem. Will that ever happen? Who knows? Divisiveness is easy and it's profitable, for it feels good to point a finger and label people.

And if you disagree with me, you're probably a racist, homophobic traitor.

It's true. Kimberly, where do see him going? Maybe a style segment on "FOX & Friends"?

GUILFOYLE: Oh, my God. Come on.

GUTFELD: I like him, though.

GUILFOYLE: I'm a fan. I'm a fan of his. I think he's really bright. He was a phenomenal prosecutor. He had a great reputation. You know, he handled a large, you know, volume of material and really stuck with it in terms of the Benghazi hearings.

And I think he's being a virtuous person, and I like what he had to say in terms of being able to see all sides of an issue. And because someone disagrees with you doesn't mean that they're a bad person or their politics or their intentions, you know, should be questioned. So I'm excited to see what he does next. I don't know. Maybe here, Jesse.

GUTFELD: Yes, a lucky guy.

Hey, you know, Dana, every time we hear about the assessment of intensity and tribalism. Every time I think about it, then I think about the past. We've had assassinations and civil wars. So is this kind of -- is this idea that we're being divisive a bit overwrought? We did have an actor kill a president. You know?

PERINO: Yes. I remember when I talked to Mitch McConnell last week. He said, "Let me put everyone's mind at ease." And he went back and said they used to actually beat each other up...

GUTFELD: Right.

PERINO: ... on the floor.

And I think that Trey Gowdy seems very relieved. This is a decision that he's wrestled with for the last couple of cycles, because he realized, I think, early on that, "Wow, this might not be for me."

There's a lot of different ways that you can serve your country and be a public servant; and you don't always have to run for office. It's the endless fund-raising, the inability to actually do what he wants to do, which is the law.

But he is somebody that you would certainly want as your own personal lawyer. If you -- if he decides to go into law.

GUTFELD: I may need one.

PERINO: You would want him as that. You'd want him as a neighbor or a teacher or a friend. And I think he's going to try to teach a little bit, as well.

GUILFOYLE: Oh, my God, Dana. Like a neighbor, a friend.

PERINO: And I'm a big fan. Ever since the Benghazi hearings, when he would be willing to talk to you.

GUTFELD: Yes.

PERINO: And you didn't have to -- and he would give it to you straight, that was certainly welcome and different. No wonder he didn't fit in.

GUILFOYLE: He would be a good member of a book club, too. Don't you think?

PERINO: Yes, a book club member.

GUTFELD: I think we're going too far here.

Juan, I think the conflict is heightened, because Republicans have learned from the Democrats on how to fight. Don't you think that's true?

WILLIAMS: No.

GUTFELD: You guys were -- you guys, in the '60s, were so quick...

WILLIAMS: In the '60s.

GUTFELD: Everybody -- everybody you disagreed with was evil. It started with the Vietnam War.

WILLIAMS: Let's go back to the Civil War. But I'm just saying...

GUTFELD: The Democrats, right? Slavery.

WILLIAMS: I don't see -- to me, Trey Gowdy, you know -- by the way, I think a very competent prosecutor. But what he did during Benghazi, two years of beating up on Hillary Clinton and then coming to the conclusion there's nothing here. I mean, I don't understand it.

I like the fact that he now says you don't have to, you know, turn your opponents into devils. I think, boy, but now he's leaving, and he's one, by the way, Jesse, unbelievable to me, but 41 Republicans who are leaving this Congress. Nine committee chairmen, including people like Trey Gowdy who does have respect. As I say, I don't like what he did with Benghazi, but he does have some respect as a man who knows the law, a man who could have been one of President Trump's considerations for attorney general.

But now you see all these people fleeing. Guess why they're fleeing? There's an erratic president, and there's a chance the Democrats are going to have a big November this year.

GUTFELD: Jesse, can you tie this into the Super Bowl?

WATTERS: Yes. I don't think -- I don't think Gowdy is leaving because he's going to lose his seat.

WILLIAMS: No?

WATTERS: I like the hair shots. Can we put the six hair shots back? I want to pick my best one. I think the one on the upper left, if you want to DVR it back, was probably the best look. There it is right there with the scruffy goatee.

The Benghazi hearings, Juan just said that, you know, nothing came of it. Basically, we found out that they didn't protect the consulate on the eve - - on 9/11's anniversary, couldn't save our own men and women because they didn't have assets in place, and then lied to the American people and to the victims' families to their face and said it was about a video when they knew all along it was a terrorist attack.

I actually think he got to the bottom of that.

He looked relieved, because all you do is dial for dollars. I heard they, like, put you in a room for, like, four hours a day and you fundraise. That sounds terrible. I mean, the swamp stinks. I'd want to get out of it, too. He's probably going to get a nice paycheck pretty soon.

GUTFELD: Uh-oh. Shall we move on?

GUILFOYLE: Yes.

GUTFELD: A special surprise addition to Team USA's Olympic delegation. That's next.

(COMMERCIAL BREAK)

PERINO: It touched a lot of hearts to see the parents of Otto Warmbier at President Trump's State of the Union address last week. Their son's memory honored at the Capitol. Otto's tragic story retold again to shine a light on the brutality and grave threat posed by the North Korean regime that tortured him.

This week, Fred Warmbier will travel to the region with Vice President Pence to attend the Olympic opening ceremonies in South Korea. Mr. Pence says Fred and his wife remind the world of the atrocities happening next door.

And Greg, I think this is a real show of diplomatic strength, because the South Koreans are apparently laying it on real thick to welcome the North Koreans and make feel all good about -- we don't want to normalize. So bringing Mr. Warmbier with him, the vice president is basically forcing all of the media to cover that story.

GUTFELD: It's a powerful, symbolic gesture, and it perfectly counters the inclusion of North Korea and its propaganda pep squad that they're going to be putting up there. So every time North Korea is up there at the opening or closing ceremonies, or whenever they have athletes participating, the networks are going to show the dad as a reminder of what the world is like under the rock of that hermit kingdom.

We have to turn the rock over. Because you're going to see the best part of that rock during the ceremonies. So you've got to remind people there's bugs under that.

GUILFOYLE: Yes.

PERINO: Jesse, what do you think?

WATTERS: I think it's good when you use people and their personal stories as a rallying cry for a policy or something like that. We had the Kate Steinle situation, and you had Kate's Law. You had Jessica Lunsford, and you had Jessica's Law. Now Otto, I think, is a perfect person, his father to go out there and remind everybody about how disgusting and despicable the regime is.

We haven't really had a situation like this since the cold war where the Olympics had that, you know, that nationalistic competition, even though North Korea is not really competition. We'll wipe them out.

But it really kind of hones the country's and the world's attention around evil. And it was the evil empire back in the '70s and '80s. And now it's this evil -- Axis of Evil, one of them -- regime up there. And I just -- I just hope -- he's not being used. A lot of people say this guy's being used; he's being exploited. He's not. He's in this. He wants to be part of this, and I'm glad Mike Pence extended the invitation.

PERINO: Juan, what about that, as a father? He basically is saying, "I'm not -- I am going to take this opportunity to try to prevent this from happening to anybody else."

WILLIAMS: I don't know that he can prevent it, but I mean, boy, what a horrible story. What happened to his child is just -- it's unbearable.

So I mean, if he wants to go, feel free. The question to me is what are we setting ourselves up for, you know, going forward? You know, there have been stories about how the Pentagon has been criticized by the White House for not sending over possible military scenarios.

And then you hear from the back that the generals don't want the White House to act precipitously in terms of attacking or giving a bloody nose to North Korea, and even somebody who was under consideration to be ambassador, oppose that kind of policy and then withdrew his name from consideration.

But I know that, from what we've been told, the North Koreans are going to have big military parades and going to make a show of power in addition to which they are marching in with the South Korean delegation. So, you know, it looks to me like there will be all this pretty, gauzy stuff about North Korea at this moment, and I think Warmbier would serve as a nice antidote to that.

PERINO: Yes, I agree. Kimberly, last thought to you.

GUILFOYLE: Yes. You know, it was a really moving moment. I found myself just, you know, looking at the family and really looking at their faces and looking in their eyes. And you can just see that it's just palpable, the pain, the suffering, the loss in just the way his mom's face looked. How it's still so real every morning when she wakes up and every night when she goes to bed. It's her first and last and final thought. And his father looking over at his wife. I mean, it's just -- it's unspeakable.

But you know, I applaud President Trump for doing so much to try to get him home, and at least they did get to see their son one final time. I think they're, you know, incredibly symbolic of the American spirit and of patriotism. And you know, we're all tied and connected in this together, and it's a very real reminder of the savagery of the North Korean regime that we should never forget about.

PERINO: All right. Indeed. OK, we're going to move on. Jimmy Kimmel has a theory on why so many late-night hosts are liberals. Conservatives aren't smart enough to do his job.

GUTFELD: Boo.

PERINO: That one, next.

(COMMERCIAL BREAK)

WILLIAMS: You'd be hard-pressed to find a late-night host these days who's not taking constant cracks at Republicans. Why so many liberals? Jimmy Kimmel has a theory.

(BEGIN VIDEO CLIP)

JIMMY KIMMEL, LATE-NIGHT HOST: It also just so happens that pretty much every late-night talk show host is a liberal. And that's because it requires a measure of intelligence. Not a ton, not a tremendous amount of intelligence, but you do have to be over the baseline.

(END VIDEO CLIP)

WILLIAMS: So is he implying that the conservative side of the country is stupid? Unintelligent? It appears so. What do you think, Greg?

GUTFELD: First of all, that's what happens when you're in a comfortable space. He's being interviewed by these wonky, beta male fan boys, so he kind of goes a little bit further than maybe he would.

But this is also what happens when you come to politics late in life. It creates a false confidence that's inversely proportional to your actual knowledge.

PERINO: That's so true.

GUTFELD: It is. If he is only sure of his stance -- he's only sure of his stance because he hasn't moved from the emotional position to a factual position.

Everybody is like this. I was like this in my 20s when I got into politics. I thought -- and also, both sides are guilty of this. They rely on the intelligence insult. I look at tweets about Juan. Like, if they don't like what Juan says, they called him an idiot, which is not an argument. It's not an argument. And clearly, Juan is not an idiot. He's a very intelligent person.

So it's -- rather than call somebody an idiot, which the left does and the right does, you might want to envision yourself on the other side and try to make a strong argument for their argument and then take it apart, which is a lot smarter than this.

GUILFOYLE: They teach you that in speech and debate.

GUTFELD: That's true. It's called the steel man.

And -- but he's -- he's in an immature portion of his political life. And maybe he might grow out of it.

You're seeing in the world of podcasts the mix between right and left, people interviewing each other. Not getting -- like everybody treating each other with respect. Dave Reuben (ph), Jordan Peterson, the Weinsteins, they all work together, and they don't second-guess the intellectual superiority. They don't try to say that they're intellectually superior. And I think that's what -- what he needs to learn, and he probably will. Or not. Who knows? Who cares?

WILLIAMS: So Kimberly, he actually had on conservatives, people who disagree with, you know, a pathway to citizenship for the DACA, for the DREAMers, and had them talk to DREAMers. So it seems like, you know, he's willing to hear from other sides, from the other side.

GUILFOYLE: Yes, well, I mean, that's not him -- yes, it's his show, but that's not him actually doing it.

But look, I think this is really just about kind of ratings and developing his own niche. He's actually been able to do quite well. He started to resonate, remember, during the health care debate. And he was taking on some conservatives, and that became sort of his area, his sweet spot where he seemed to generate some buzz and some interest. So you're seeing him continue down the path, just because it's proved to be successful for him, and there's dividends that have paid off. And I think it's really that simple and formulaic.

WILLIAMS: So Jesse, he has said, you know, if -- if conservatives don't like his criticism of Donald Trump, don't watch.

WATTERS: That's fine. You can change the channel. Watch FOX. I support that.

He was doing "The Man Show" before this. Does anybody remember "The Man Show"?

GUILFOYLE: Very popular.

WATTERS: I don't think that was very highbrow. He was, like, bouncing on trampolines with women in bikinis.

GUTFELD: But they had Adam Corolla, who was awesome.

WATTERS: Yes, he was good, too.

It takes wit, and it takes a good personality and decent interviewing skills to be a late-night host. But let's be honest: network executives hire people in the comedy and entertainment space, and most of them happen to be liberals. Most conservatives don't go into that space for different reasons.

So I don't think it's very deep. But I do think he's getting a little cocky, because he did, you know, land some punches with the health care deal. But in all honesty, I might actually have to invoke "The View" card now, because I do want to be on his show eventually. So I'm going to hedge and say he's very great.

GUILFOYLE: What would you be on his show about? This is very interesting.

WATTERS: Maybe things go well for mem here at FOX and he might invite me one time.

GUTFELD: Are things going badly right now?

WATTERS: Well, I don't think I'm good enough at this point to get the invite.

WILLIAMS: Oh, come on. We're going to root for you.

PERINO: Some of the funniest people I know are conservatives. And they're -- they're smart. You can't be funny without being smart.

GUILFOYLE: I think that's so true.

WILLIAMS: So why -- so why is it that none of the hosts are conservatives?

PERINO: I don't know, but that's the...

GUTFELD: "The G.G. Show," mister.

PERINO: It also says, like, why aren't -- why don't conservatives go into academia? I mean, there's just choices.

WILLIAMS: OK.

GUILFOYLE: Well, also because they have all the entertainment people and the liberal Hollywood guests go on there. So that's why.

GUTFELD: Good point.

WATTERS: That's a great point.

WILLIAMS: "One More Thing" is up next. Stay with us.

GUTFELD: Good point.

(COMMERCIAL BREAK)

WATTERS: It's time now for "One More Thing." Greg, here's how I lost my voice last night.

(BEGIN VIDEO CLIP)

WATTERS: Touchdown! Touchdown! Woo! Woo! Yes! Yes!

(END VIDEO CLIP)

WATTERS: OK, and I made a bet with Martha MacCallum. And here it is, and you will see the results on her show.

(BEGIN VIDEO CLIP)

MARTHA MACCALLUM, FOX NEWS ANCHOR: It is a good match. The Eagles and the Patriots is, you know.

WATTERS: It's going to be. And you know what? If the Eagles win, I think you should wear an Eagles jersey on the set. How about that?

MACCALLUM: OK, I'll do that. I'll do it for the last block.

WATTERS: And for my last block on "The Five," I will wear a Pats. I won't be doing it, but for the interest of the wager.

(END VIDEO CLIP)

WATTERS: And I was right. I will not be doing it, because they had a great game.

GUILFOYLE: Such confidence. You know, by the way, just so you know...

WATTERS: Yes.

GUILFOYLE: ... she can't stop winning, because she was actually there.

WATTERS: She was. I was not. And it's fine. I enjoyed myself.

GUILFOYLE: Oh, it's me. Uh-oh.

WATTERS: Go ahead, K.G. Chew your food.

GUILFOYLE: OK.

GUTFELD: Yes, I can hear her chewing it.

GUILFOYLE: I'm trying to do it. Doritos has announced plans to release new tortilla chips especially for the ladies. The female-friendly version of popular chips will make less of a crunch noise when you eat them. Actually, I don't like that. They're going be a little bit smaller in size, and the single-serve bag will be able to fit inside your purse.

WATTERS: Are you serious?

GUTFELD: They should be called Doritas, not Doritos.

PERINO: Yes.

WATTERS: That's sexist.

GUILFOYLE: The global chief executive of Pepsi, who owns Doritos, thinks that, unlike men, women do not like to crunch loudly.

PERINO: I don't mind if I crunch. I just don't like to listen to other people crunch.

WATTERS: That is true. All right. Greg Gutfeld.

GUTFELD: Yes, that's going to be a problem.

All right. Time for this.

(BEGIN VIDEO CLIP)

GRAPHIC: Greg's Mail It In Monday.

(END VIDEO CLIP)

GUTFELD: "Greg's Mail It In Monday." I'm going to keep it as simple as possible. Just roll it.

This is a huge stag dropping by a Skalett (ph) Hotel's bird feeder for a snack. I really don't have much to add to this...

PERINO: Wow.

GUTFELD: ... other then I really wasn't that picky about my "One More Thing" today. And...

PERINO: That's amazing, though.

GUTFELD: ... Dan offered this one.

WATTERS: Welcome to my world.

GUTFELD: There you go.

GUILFOYLE: Could they eat the bird? I mean...

GUTFELD: I don't know. Anyway...

WATTERS: I think you just mailed in one day. Juan.

WILLIAMS: Here we go. So nutritionists always tell you stay away from fast food. But guess what? Turns out one of America's guilty pleasures might come with some health benefits. Japanese scientists are now using a chemical found in McDonald's French fries to grow hair. The chemical is used to stop cooking oil from foaming. So far researchers have only used it on bald mice, but they believe their groundbreaking findings may also work on people. So you can be fat, greasy, and hairy.

GUTFELD: Now you have food in your hair instead of hair your food.

WILLIAMS: There you go.

PERINO: I thought we were going to get family pictures.

WATTERS: I'm going to supersize it.

PERINO: All right. So here's what I'm doing today. You know, I don't really cook at home, but I got a great new cookbook from our friend Dion, one of our colleagues here. His friend, Christine Filardi, has written a book, "Home Cooking for Your Dog." And it's got everything. You know, like Fido's Fish Cakes, Pot Luck Polenta, peanut butter and coconut cakes. I actually think that I might do this.

GUTFELD: Really?

GUILFOYLE: You're going to cook it for Peter or Jasper?

PERINO: No, just for -- just for Jasper.

GUTFELD: Cooking for your dog.

PERINO: Shannon Bream cooked for her dog,

GUTFELD: It's not going to far?

PERINO: It was a lab, and it lived to be almost 18.

WATTERS: All right.

GUILFOYLE: Do you know a lot of people do this? They even grind bones.

WATTERS: OK, speaking of, "Special Report" up next. How about those Eagles, Bret?

BRET BAIER, FOX NEWS: Congratulations, Jesse.

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