UPDATE: 5:30 PM: David Letterman tonight asked FNC’s Bill O’Reilly to explain his displeasure with President Obama‘s appearance on Zach Galifianakis‘ web series Between Two Ferns. Short answer: Russian president Vladimir Putin.

Watch here:

PREVIOUS: THURSDAY, AM: President Obama’s appearance on Zach Galifianakis’ web series Between Two Ferns is now three layers of TV deep. Comedy Central’s The Colbert Report last night did a report on Fox News Channel’s disapproval of the president’s appearance on the Funny or Die series to promote the Affordable Care Act. “I am not the only one who was angry,” Colbert said of FNC’s unhappiness. “I am just the best at it.”

Up next — Reliable Sources‘ Sunday deconstruction of The Colbert Report’s segment on FNC’s anxiety over Obama’s appearance on Between Two Ferns? Watch after the jump: