Britney's mom Lynne sat down to chat with Meredith Vieira on Wednesday's Today show and, of course, the two ladies discussed Brit, parenting and fame...

"There was that honeymoon period where it looked like she could do no wrong," Lynne explains. "Then there's that ugly side of fame... and we weren't ready for that."

Lynne denies she was ever a stage mom, insisting that "Britney pushed me." She adds: "She's out there, she's with the crowds and with her peer groups, and she's doing things - she's a celebrity, for heaven's sake!"

And what about that famed Rolling Stone cover of Britney with the Teletubby in '99? "We didn't really know what we were doing," Lynne admits. "I never even bought [Rolling Stone], but I just heard this is a really big deal."

Finally, Meredith asks if Lynne would have done anything differently. The mother of three responds: "Shoulda, woulda, coulda."

Watch the first vid below!

In this second half of the interview - video below! - Lynne talks about Jamie Lynn, who recently gave birth to her own daughter, Maddie...

Apparently, Jamie Lynn called her mom home one day (with boyfriend Casey Aldridge by her side). "She hands me a note and tells me to go into the bedroom and read it," Lynne reveals.

The note said she was pregnant. "I thought it was a joke," says Lynne. "I kept waiting for the punch line."

Then, when Casey wouldn't look at Lynne, she knew it wasn't a joke. What did Jamie Lynn's mom then do? "I was in shock... and then I started to cry. And then she [Jamie Lynn] started consoling me at that point," Lynne says.

Did she feel like it was her fault? "As a mother," Lynne explains, "don't we always blame ourselves? I took a lot of the blame. I took all the blame."

Wow - drama, drama, drama!