well if you listen to his segment you would think eminem wrote an entire song bashing sarah palin, where he nailed her to a cross, raped her, and then forced her to do his dishes and laundry. atleast thats what i was expecting from his and his guest's (who was a nutbag herself) outrage.
he was litterally calling for all madia news networks and record companies to be just as outraged and blackball him or something.
then you watch the video, and eminem devotes one line out of the entire song to sarah palin where he says something to the effect of "i can be a gentelman. take sarah palin out to dinner and then i will nail her".

o'reily must be a closet homo if he was offended by sarah in a bustier. talk about making a mountain out of a molehill
(literally and figuratively

).
anyways, in the video, he makes fun of star trek, tom cruise and dustin hoffman, and most importantly himself. complete satire. SNL has done far worse.
personally, i got a kick out of tony romo, in uniform, passing cheeseburgers to jessica simpson.