— DIANE CLEHANE

What recession? The joint was jumping at Michael’s today. Media mavens, television types and fashionistas were still trying to digest the week’s head spinning events but, in true New York style, weren’t letting a worldwide tanking economy get in the way of a good time. There was plenty of buzz about last night’s debate — a few folks in the dining room today watched the whole thing go down at Denise Rich‘s house. The verdict: Obama won and will win.

The ‘other side of the aisle’ was more than represented when Loreal Sherman, Michael’s tireless and terrific maitre d’, launched into a dead-on imitation of Gov. Sarah Palin for departing diners Joy Behar and CNN’s Jon Klein. Ducking inside the coat closet after donning some clear square framed glasses and using the door as her debate podium, Loreal had the gathering crowd in stitches as she improvised a performance of Palin’s indelible one-liners from her debate with Joe Biden last week. Afterwards, when I told her I marveled at her ability to do spontaneous stand-up, Loreal confessed she’s a professionally trained performer who once sang at Carnegie Hall. Memo to Tina Fey: You can’t be everywhere, so if you’re ever in need of a stand-in (who even looks like you!) Loreal is your girl. You know where to find her.

Here’s the rundown on today’s crowd:

1. Star Jones, who called minutes before noon after “a really important meeting” for a table for herself and her entourage. The mood was pretty upbeat (we overheard Star cracking some Sarah Palin jokes) and there was wine all around. When I asked the usually chatty Star about what she was dishing about with her pals, she slipped on her shades and said, “Business, Business,” before sauntering out with nary a look in Joy Behar’s direction.

2. CBS spinmeister Gil Schwartz (who is always smart enough to make his reservation for Wednesday!) with Madison Square Garden’s human resource honcho John D. Moran.

3. ‘Mayor’ Joe Armstrong sporting his Obama button — and talking (what else?) politics — with Cynthia Brill and major democratic booster Maureen White.

4. New York’s First Lady Michelle Paterson with Alexa Eaton and Debbie Bancroft. Word is Mrs. Paterson is “not pleased” with New York magazine’s cover story on her husband. Well, we’ll say this, the cover line “David Paterson Didn’t Ask For This” was perfect.

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