We hear word that some oddly popular event happened last night in Los Angeles. We're not really sure what it was all about, but we've got pictures of some of the self-congratulatory, insular men and women in attendance after the jump.

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Forget the awards ceremony; the best Oscar action happened last night at E!'s coverage of the red carpet. Watch as Jennifer Garner and Laura Linney treat crazy Gary Busey like a deranged homeless man and Ryan Seacrest completely loses it.