Barbara Walters, Elisabeth Hasselbeck Clash Over Sarah Palin (VIDEO)

Barbara Walters and Elisabeth Hasselbeck clashed on Thursday's "The View" over Sarah Palin's decision to exit the 2012 presidential race .

The argument began when Hasselbeck (who was close to Palin before falling out with her ) chimed in to the panel's discussion about Palin. "She actually said one of the reason she's not running is she thought she would be such a threat to the nominee," Hasselbeck said, causing the audience to actually laugh out loud.

"I'm not quoting her!" Hasselbeck said. "...She actually does believe that and I think it is the right thing to do because the last thing the Republican party needs is a distraction."

Walters, who seemed to find this explanation rather dubious, shouted over Hasselbeck, "She is not running because she doesn't want to take away from the other candidates?! What about the fact that maybe she thinks she can win?"

Hasselbeck defended her point, saying that Palin has the ability to draw "mass crowds" and raise "mass cash," which would not go to another Republican candidates.

"That's not why you drop out," Walters responded under her breath.