Courtesy of the MediaMoGirl blog, I give you one of the funniest timely satires I’ever . It’s a “Lost Seinfeld Episode” done by National Lampoon. This parody video combines classic Seinfeld clips with actual footage of Michael Richards’ rascist rant at the Laugh Factory. It also includes some of the Letterman appearance. I can’t imagine how many Seinfeld tapes the National Lampoon went through to create this.

They stream the video on the National Lampoon website with ads, and have distributed it as well via Revver (below).

P.S. Here’s another Kramer apology spoof by a comic on YouTube. He’s Carter Comet from Vancouver. The laughs/time ratio is lower but there are some funny moments.