‘LET’S DO AS FOX NEWS COMMANDS, AND FOLLOW THE MONEY’…. “The Daily Show” is known for occasionally skewering Fox News, but some segments are truly special. Last night offered just such an episode.

On “Fox & Friends” yesterday, the Republican network continued in its campaign to destroy the reputation of Faisal Abdul Rauf, the head of the Park51 project that Fox News used to find unobjectionable. As part of the shameless smear, “Fox & Friends” is “following the money trail,” asking questions like, “Where is this money coming from? … This guy has questionable ties.”

Former Bush administration official Dan Senor appeared on “Fox & Friends” and pushed a fairly specific angle: “The Kingdom Foundation, which has been a funder of Imam Rauf in the past, the Kingdom Foundation, so you know, is this Saudi organization headed up by the guy who tried to give Rudy Giuliani $10 million after 9/11 that was sent back. He funds radical madrassas all over the world.” Brian Kilmeade added, “And he funds this imam.”

That’s not all he funds.

“The guy” Fox News is so upset about is Saudi Prince Al-Waleed bin Talal, who has extended support to Rauf. But Jon Stewart also brought up the inconvenient fact that the largest News Corp shareholder outside the Murdoch family is … the Saudi Prince Al-Waleed bin Talal.

“That’s right. The guy they’re painting as a sinister money force owns part of Fox News. Let’s do as Fox News commands, and follow the money:

“This is the proposed ‘terror mosque.’ We know that it’s a terror mosque, because the money may be coming from a bad guy, who definitely owns part of Fox News. Now we know that he’s a bad guy, because we just heard it on Fox News. And by hearing it on Fox News, watching Fox News, I’m increasing their viewership, and their advertising rates go up. Now part of that money goes to the bad guy we learned about on Fox, because he’s their part-owner, Prince Al-Waleed bin Talal, allowing him then to ‘make it rain,’ so to speak, on the terror mosque.

“My point is this. If we want to cut off funding to the terror mosque, we must, together as a nation, STOP WATCHING FOX! It’s the only way! Using their reasoning, it’s the only way to cut off the revenue stream to these ‘bad dudes.’”

That’s extremely funny, and an extremely good point. Fox News wants Americans to believe Al-Waleed bin Talal is responsible for funding Islamic radicalism. Fox News doesn’t want Americans to know that Al-Waleed bin Talal is also responsible for funding Fox News.

If we should necessarily look askance at projects financed by this Saudi prince, it’s only logical to suspect Fox News of wrongdoing, if not terrorist sympathies — since, after all, some of it’s financial backing comes from the same guy funding “radical madrassas” and the Burlington Coat Factory community center.

Also note, during the Fox News broadcast, the various Republican media personalities refused to actually say Al-Waleed bin Talal’s name, prompting a delightful discussion on “The Daily Show” about whether Fox News is “staggeringly, achingly, almost inspiringly stupid,” or “really fu**ing evil.”

Take the time to watch this one. You’ll be glad you did. The only decision now is whether to start reflexively referring to Fox News, just as a matter of course, as being financed by questionable Saudi royalty with ties to radicals.

Postscript: Faiz Shakir also notes this morning that the Arab News, just today, published a photo of Prince Al-Waleed “meeting with News Corp executives to discuss how to ‘further strengthen the strategic corporate alliance between Rotana and News Corp.’”

They don’t even have the decency to hide their dangerous foreign financiers….

Steve Benen

Follow Steve on Twitter @stevebenen. Steve Benen is a producer at MSNBC's The Rachel Maddow Show. He was the principal contributor to the Washington Monthly's Political Animal blog from August 2008 until January 2012.