Cybill Shepherd is speaking her mind -- and pulling no punches -- when it comes to Republican vice presidential nominee Sarah Palin.

"Any respect I had left for McCain was completely gone when he chose Sarah Palin," she tells ET. "To subject our nation to being that close to having someone so obviously unqualified is terrifying."

The always outspoken star was in New York for More magazine's second annual Reinvention Convention for women over 40 -- a day-long, interactive event for women interested in transforming their work, finances, health, beauty and fashion.

"She's absolutely against women's rights -- the right to choose, the right to end an unwanted pregnancy, the right to have birth control, the right to biological integrity; she's totally against it," explains Cybill. "We've just experienced a financial catastrophe in this country, we're still going through it, and having John McCain and Sarah Palin in office would be another American catastrophe."

Previously, at the premiere for the Robert De Niro Hollywood comedy 'What Just Happened,' Cybill also gave us an earful: "There's no way that she could ever make the grade. I'm sure she's a wonderful woman, but she's completely unqualified, and anybody with any sense knows that. And I think it's almost cruel to subject someone who's so totally unprepared to fulfill [the job]. It's one of the most frightening things that I could ever conceive of, is her being president."

Watch ET for more with Cybill!