In recent days, the stock prices for major social media platforms like Facebook and Twitter have taken truly massive hits, which were partly driven by the issue of censoring conservative political speech. Last week, Facebook took a colossal $120 billion stock hit (which was the largest ever in history). And during an appearance on the Fox Business Network’s After the Bell, Media Research Center President Brent Bozell predicted that such hits were “going to get worse.”

“It’s been a rough week in general, last week or so for these technology companies, Twitter Facebook, Snapchat, their stock prices, this issue, the censorship issue, Silicon Valley-wide issue, Twitter-specific, how do you view it,” wondered Fox Business host Connell McShane.

Bozell’s response noted that those large stock market hits to social media companies were due to people losing confidence in the platforms that showed examples of political censorship against conservatives:

Well, I think it definitely is. It’s got to be an issue in there. It's a loss of confidence. When the public has loss of confidence. The public is not going to want to use these venues unless they have to. Facebook is being hurt tremendously by this issue of censorship. Now it is Twitter. And I would submit to you, that Twitter is worse than Facebook. So, I think it’s going to get worse. I hope I'm wrong, by the way. I hope I’m wrong, but I don't think I am.

In addition to talking about what the market’s movements symbolized, Bozell spoke about the possible avenues Congress could take to hold the social media companies accountable. “One of the things you can do is what Congressman Nunes is suggesting we should do, which is to hold hearings to see if they're in violation of Federal Election Commission rules,” he explained. “When you see now Twitter has been caught not once, but twice, with the shadow banning act.”

“There comes a point when you say, come on, this is censorship and you got to make a national issue about it and you have to ask the question, are they violating campaign laws,” he argued. “That they are, definitively trying to affect the Republican Party in a negative way, then you can look at whether they have crossed the bounds in the world of politics.”

Aside from any possible legal action by Congress against these businesses, Bozell also touted the benefits of simple transparency:

I think also, the fact that of the spotlight on Twitter is also a very healthy thing. Look, some of these companies have been out of control. And it is absolutely correct: there has to be transparency. They have to be honest what it is they're doing. And if you watch, if you listen to their explanation about the latest go-round, they just go around in circles, and circles, and circles saying a whole lot that signifies nothing.

The transcript is below, click "expand" to read: