Why do people like him make fun of others? Because they can. Why can he? Because we all like a good laugh and encourage this sort of behavior because if you can't laugh at yourself who can you laugh at. At one point in time (in life) we're all made fun of and when someone ELSE is the butt of the joke then it boosts our self esteem.
That's just my thought on the issue.
The only thing on LENO that I like (btw) are the newsclippings