Oprah is facing a boycott. Also, Did Barack Obama cheer for Stock Market crash?

But first, Live from New York ... it's Tina Fey as the Alaskan Governor and Vice Presidential Nominee. 

In a "nonpartisan message" the two plead for an end to sexism in the presidential campaigns.

"I didn't want a woman to be president, I wanted to be president," said Poehler, in her reprising caricature of Hillary Clinton.

Fey bears a striking resemblance to Sarah Palin and her accent is dead on.

A few jabs are made about Palin being less experienced than Clinton. Poehler's Clinton brags about her foreign policy experience while Fey's Alaskan governor gleefully exclaims: "I can see Russia from my house!"

Olympic swimming champion Michael Phelps joins the ranks of SNL hosts. Phelps said in his opening monologue: "This seriously is like the ninth best moment of my life." Phelps won eight gold medals in China during the Olympics.

Side note: Amy Poehler has a new baby and a new TV show on the horizon, so she's decided to kick Saturday Night Live to the curb sooner than expected.