Play by Play from the WasPot, cuz I’m too lazy to type something in a video contained in the same post, especially when someone else has already done it for me:

“I had to come back to show the respect, man, because I started ‘Saturday Night Live’ the same year you started this show,” MacDonald started.

“That’s right,” Conan answered.

“Yeah. . . . we’d all watch and go, ‘I don’t think it’s gonna work,’ ” MacDonald continued, warming up to his subject.

“It’s not gonna work,” Conan echoed.

“But then, it worked and it was great and we’re all really proud,” MacDonald continued. “And so, that’s great. And also, it’s stunning how Jay Leno outfoxed you again.”

“Yeah, he’s good,” Conan said, laughing uncomfortably, as the story started to veer off-script.

“He’s very good. . . . He’s the shrewdest guy,” MacDonald continued, in re Leno. “He outfoxed — you’re in good company — he outfoxed Johnny Carson, David Letterman. Every 10 years, some redheaded rube shows up,” MacDonald plowed on.

“I’m like some clown off the bus with a cardboard suit: ‘Gee, golly! This is going to be great!’ ” Conan joked-but-not-really.

Here’s where MacDonald broke into his Leno imitation: ” ‘Yeah, you can come after me!’ And you go, ‘Hey, thanks, Jay!’ ”

“Uh-huh,” said Conan, still not looking completely happy.

MacDonald is now in high gear: “Your agent is like, ‘There’s good news and bad news. You are doing “The Tonight Show,” it’s true. But remember that discussion we had when you said, “I will never have to [:O] follow Leno again?” ‘ ”

More Conan laughing uncomfortably while the audience cheers and applauds.

“Yeah, yeah. It’s so nice to have you back, Norm. It’s so very nice to have you back — and you bring joy to so many people,” Conan said, and then he tried clumsily to change the subject: “And, you know what, I’ll tell you something, Norm. These are tough times, people need to laugh now. Because — it’s the economy.”