Paul Shaffer Speaks out on David Letterman

Paul Shaffer is speaking out to ET in his first interview since the alleged attempt to blackmail David Letterman was made public.

The music man goes one-on-one with our Kevin Frazier, also speaking about his newly published memoir, We'll Be Here for the Rest of Our Lives: A Swingin' Show-Biz Saga, in bookstores now.

"Dave is my close and dear friend and there is nobody like him," Paul says. "There's nobody that I respect more."