How should Jim Lehrer have controlled the debate?

Here’s a sketch that ran on Jimmy Fallon’s show (scroll down just a little). The sketch portrays a lot of anger about what Lehrer did in the debate, and I heard so many comments on debate night about what a bad job he did, as well.

What could he have done better? I think it’s hard to tell the President or the potential next president to shut up. Do you think you could do it? Could anyone? How?

This sketch also raises a secondary question: When did it become ok to say f—- on network TV? Is it just late night? I mean, the bleeps do nothing to hide what is being said.