Mic check – 1, 2, um 12.  If Jesse Jackson taught us one thing, it’s to make damn certain your mic isn’t hot.  Woops.

While the mic is hot during the majority of the clip, the action really starts at the 50 second mark.  Come on Peggy and Mike – you conservative pundits – tell us how you really feel about sarah!

Transcript to the best of anyone’s ability…

Murphy: You know, I come out of a blue, swing-state governor world. Engler Whitman, Tommy Thompson, Mitt Romney, Jeb Bush.  I mean, and these guys, this is all like how you win a Texas race, you run it up. It’s not going to work.

Noonan: It’s over.

Murphy: Still McCain can give a version of the Lieberman speech to do himself some good.

Todd: Don’t you think the Palin pick was insulting to to Kay Bailey Hutchinson?

Noonan: I saw Kay this morning.

Murphy: She’s never been comfortable about that. I mean.

(inaudible banter)

Todd: Is she really the most qualified woman?

Noonan: The most qualified – no. I think they went for this excuse me political bullshit about narratives.

Todd: Yeah, they went to narratives.

Noonan: Every time Republicans do that, because that’s not where they live and it’s not what they’re good at, they blow it.

Murphy: You know what’s really the worst thing about it? The greatness of McCain is no cynicism.

Todd: And this is cynical. And as you called it gimmicky.

Murphy: Yeah.

Tood: Thanks guys.

Murphy: See you later.

Digg, thank you.