I don't know what is his point. Everything I could find on his blog about the claim democrats would be fascist applies for communists, too.
As Mussolini explained, and as the founder of fascism he should have the right to define it, fascism is the fusion of the gov with big capital. So Olbermann in his latest special comment was right. Risking national security for preventing law suits against some big companies is pretty much fascist.
Fascism is a totalitarian form of government, but by far not the only. Democracy without individual rights, e.g. when the majority can decide to enslave the minority, is as well totalitarian.

Der Amerikaner ist die Orchidee unter den Menschen
Volker Pispers