If Fuzzy's ownership of the Studmaster name confuses you, you might want to consider taking a look at this previous storyline. Or, you could just speculate. Maybe he inherited it when his dear old uncle Mortimer bought the farm in a tragic bowling accident.
And then there is the matter of this news story. Don't worry, kids. This is all a part of the pre-war strategy. The idea is to lull the Iraqi army into a false sense of security by making them think that everyone in the American administration is a raving moron.
Don't worry, America! You don't look silly at all. Truly, we all recognize the mighty moral victory that is "Freedom Toast."