Last night, Stephen Colbert aired – for millions of people to watch and laugh at – a clip of Fox News host Eric Bolling pulling a “passionate, heartfelt conspiracy theory” tying Benghazi to Osama Bin Laden “straight out of (Bolling’s) ass.” Devastating-to-Fox comedy ensued.

The Colbert Nation caught Bolling coming up with, as Colbert put it, “an ironclad explanation for why they did whatever it is we’re accusing them of having done after the Benghazi attack.”

Bolling was shown saying about Benghazi on May 5,

One more piece to this. Don’t forget, this was prior – prior! – to Osama Bin Laden being taken down. And the thought was and the discussion was, is President Obama going into the re-election soft on terror or not? A lot of people are saying…”

Before Bolling could elaborate further, he was reminded that Benghazi happened after Bin Laden was killed.

But rather than dwell on the fact that Bolling had just put forward a completely manufactured allegation about what other people have been thinking and saying as legitimate analysis, Bolling’s co-host, Dana Perino, did her best to whitewash the huge gaffe by saying, “It would have been a great point if it were true.”

Colbert took it from there.

The Benghazi discussion doesn’t start until about 4:34 in the video below. But the entire Tip/Wag segment is hilarious so be sure to watch it all!