Um, no. That doesn't follow. Nice try, at the tu quoque though.
1) You are known by the company you keep
2) Franco kept company with Hitler and Mussolini
3) Hitler and Mussolini were Nazi and Fascist, respectively, and the “Bad Guys” collectively
4) Franco, therefore, was...?
No wonder it took America so long to figure out who the Bad Guys actually were in WW-II.