During the 3PM hour on MSNBC, anchor Norah O’Donnell derided Alaska Governor Sarah Palin for attending the annual Alfalfa dinner in Washington, D.C., declaring: "Sarah Palin is coming to D.C. she ran as a maverick this whole campaign, wanted nothing to do with people in Washington, the anti-establishment candidate, and now she's coming to the most exclusive dinner in Washington, to hobnob with perhaps the president, ambassadors, senators, all the people she derided during the campaign. What's up with that?"

O’Donnell spoke with Republican strategist John Feehery and Democratic strategist Morris Reid and played a clip of Palin explaining why she was attending the dinner: "Alfalfa dinner, yes. In fact, that's because President Obama is scheduled to be there. And how often will I have an opportunity to have dinner with the president. I will take up that offer to do so, yeah." O’Donnell then turned to Reid and asked: "Didn't she call him a terrorist on the campaign trail?" O’Donnell was referring to Palin’s comment that Obama was "palling around with terrorists," like his long-time Chicago associate and former domestic terrorist, Bill Ayers.

In response, Morris went on a Palin-bashing rant, during which O’Donnell laughed hysterically: "Well, I think she called him a terrorist among other things. But listen, the woman's hungry. She's got to eat, Norah. We got to feed the woman, don't we...You know, she lives in public housing, we got to feed her on the public dole. She got a bridge to nowhere. We love Sarah Palin on the Democratic side. We can't get enough of her...I think -- I don't think she knew -- I think she -- Norah, I think she thought it was just her, and Buckwheat, and Alfalfa, with the president at dinner. She's just clueless, it's ridiculous."

Earlier in the segment, even Feehery took cheap shots at the Alaska governor: "You know, the big news is she didn't get $11 million for that book contract. I think that's the thing that people are really worried about. That's a lot of money for a book contract and she didn't get it. So that's good news."

Here is the full transcript of the segment:

3:47PM SEGMENT:

NORAH O'DONNELL: Also, some news today about former Republican vice presidential candidate, Sarah Palin. Because she's actually headed to Washington this weekend. That's right, she says she's going to lobby for some stimulus funds for her home state of Alaska. But perhaps, more interesting, is that she is slate to attend a high profile dinner where she could run into President Obama. That's right. There's also big questions about whether she is setting her sights on a White House run in 2012?

SARAH PALIN: No. Not at all. Not at all. No. But now we'll have an available source of funds so that we're not coming close to any ethical line.

O'DONNELL: Joining us now is Democratic strategist Morris Reid and Republican strategist John Feehery. Alright, great to have both of you on. What about this, John? Sarah Palin is coming to D.C. she ran as a maverick this whole campaign, wanted nothing to do with people in Washington, the anti-establishment candidate, and now she's coming to the most exclusive dinner in Washington, to hobnob with perhaps the president, ambassadors, senators, all the people she derided during the campaign. What's up with that?

JOHN FEEHERY: I can't wait, Norah. What excitement for everybody.

[ O'DONNELL LAUGHS]

FEEHERY: You know, the big news is she didn't get $11 million for that book contract. I think that's the thing that people are really worried about. That's a lot of money for a book contract and she didn't get it. So that's good news. You know, Norah, on this whole thing on the Gridiron or Alfalfa, whichever club this is-

O'DONNELL: Alfalfa.

FEEHREY: You know, if she didn't come in and she was invited, that would be a controversy, too. Sarah Palin makes news wherever she goes. And that's the part of Sarah Palin that you all love about her.

O'DONNELL: Well, I want to play what she said yesterday. Because she did talk to reporters for about eight minutes. Specifically, it's the second sound bite we have here and it is about this dinner. Because she was asked if, in fact, she was heading to this dinner. And the reason it's interesting is because her staff denied to reporters, like myself, that she was actually going to this dinner. And then, she came out and revealed it. Listen to what she had to say about why she wanted to come here to Washington for this dinner.

PALIN: Alfalfa dinner, yes. In fact, that's because President Obama is scheduled to be there. And how often will I have an opportunity to have dinner with the president. I will take up that offer to do so, yeah.

O'DONNELL: Morris, didn't she call him a terrorist on the campaign trail?

MORRIS REID: Well, I think she called him a terrorist among other things. But listen, the woman's hungry. She's got to eat, Norah. We got to feed the woman, don't we.

[ O'DONNELL LAUGHS LOUDLY THROUGHOUT]

REID: You know, she lives in public housing, we got to feed her on the public doll. She got a bridge to nowhere. We love Sarah Palin on the Democratic side. We can't get enough of her.

FEEHREY: You know, Norah, there's nothing like having dinner with 2,000 of your closest friends and the president. So it's going to be a small intimate dinner.

O'DONNELL: However, it is not 2,000 people.

REID: I think -- I don't think she knew -- I think she -- Norah, I think she thought it was just her, and Buckwheat, and Alfalfa, with the president at dinner. She's just clueless, it's ridiculous.

O'DONNELL: Well, she is meeting also with a number of senators, including the Republican leader in the Senate Mitch McConnell, as well as, I think, some -- Senator Snow, there's going to be a private dinner for her at Fred Malik's house. So she is doing a little bit of courting. Many people think that could mean she's gearing up for 2012. Morris Reid, John Feehery, great to talk to both of you. Thanks so much.

—Kyle Drennen is a news analyst at the Media Research Center.