Chris Matthews struck back at Glenn Beck on his Wednesday show, deriding his Fox News rival in two different segments and calling him "looney tunes" and the "#1 exploiter of fear."

Last week, Beck exploded at Matthews on his radio show, yelling for minutes about Matthews' denigration of Michele Bachmann.

In his first segment, Matthews brought on Salon's Joan Walsh and Mother Jones' David Corn to talk about Beck's latest theory: that the Egyptian uprising is a terrible thing and could lead to an Islamic caliphate across the Middle East and even into Europe.

Matthews said that the theory was meant to "distract us from any kind of serious conversation that might involve thought." He continued, "this is, I do not use the term lightly, looney tunes."

Matthews also referenced Beck's use of a chainsaw and a bunny rabbit as props last week. "I don't know about a guy's psychological or mental or even emotional condition...why did you want us to think that was what you were gonna do?" he said. He then mocked the famous line from "Network," saying Beck's would be "I'm crazy as hell and I'm not going to take it anymore."

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In his closing segment on the show, Matthews called Beck the "#1 exploiter of fear."

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