Bill Hader, Alec Baldwin

Betty White, Ricky Gervais and the cast of Entourage weren't safe from mockery during Sunday's Emmy awards, but News Corp.'s Rupert Murdoch survived the show unscathed after Fox (which is owned by News Corp., natch) censored a joke Alec Baldwin was supposed to tell about the recent phone-hacking scandal involving the media mogul. Luckily for us, NBC is not owned by News Corp. and let Baldwin use one of their allotted commercial spots for his Saturday Night Live hosting gig to finally share his gem with the world.

Baldwin also uses the promotional spot to practice his best political correctness impression, which will come in handy when he officially decides to run for Mayor of New York City. "I don't care if you're young or old, black or white, Pacific Islander or straight-up Chinese. This Saturday is about something that every American can agree on, Bill [Hader]. It's about comedy."

Check out all the familiar faces returning to TV this year

Watch the full video to hear Baldwin's joke and see his new Trapper Keeper (spoiler alert: it's purple!):

Saturday Night Live returns on Saturday at 11:30/10:30c on NBC.