UPDATED: Suddenly It's Mike Versus The Mad Dog

It seems that the recent economic meltdown has given new life to the Mike Francesa/Chris Russo radio breakup of last summer. (THIS IS AN UPDATED VERSION THAT INCLUDES RUSSO'S CONVERSATION WITH HOWARD STERN. KEEP READING!)

Sirius Satellite Radio, the station that Russo left because of the lucrative opportunity of hosting and producing his own network show last August, is in big trouble. According to a story from the New York Times, Sirius is considering filing for bankruptcy. The company is $3.25 billion in debt and has $5 billion in assets.

Add that to the fact Sirius will owe $175 million in debt this month. The Times reported that such a payment may not be completed by the deadline.

This leaves its stars like Howard Stern, Russo, and Martha Stewart in limbo, waiting to find out what will happen to the sinking ship.

With this tough situation, Russo was a guest of Stern's this morning as the two apparently tried to downplay the problem and suddenly they laced into Russo's former partner Mike Francesa and WFAN. LISTEN TO EXPLOSIVE DISCUSSION.

Francesa tried to avert taking calls all day from callers in support of big Mike. Finally, Francesa addressed the situation at the end of his show. WATCH HERE! And WATCH PART II HERE!

Francesa claims that Russo was lying to Stern about how he was upset that the Mad Dog had better guests during Super Bowl week than he. Francesa also declared to his audience that Russo and any other competitor will never get ratings as good as he.