Democratic Presidential Debate: 7 Moments That Mattered

— -- Just five days before New Hampshire voters will have their say in their state’s first-in-the-nation primary, there was another first in the Granite State: Hillary Clinton and Bernie Sanders went toe-to-toe on a debate stage, just the two of them.

The intimate setting led to some of the most heated exchanges of the campaign so far, reflecting the fierce battle for the Democratic nomination at a crucial moment: Just a few days after Clinton eked out a narrow victory in the Iowa caucuses and before Sanders appears poised to claim victory in New Hampshire.

During the 90-minute debate, held at the University of New Hampshire and hosted by MSNBC, the candidates, at times, seemed not just to speak but to shout their answers. After a particularly feisty squabble, co-moderator Rachel Maddow acknowledged, “Obviously we’ve touched a nerve.”

Here are seven moments that mattered at the final Democratic debate before the New Hampshire primary:

1. Clinton Calls Sanders’ Attack On Campaign Cash An "Artful Smear"

In what was perhaps the nastiest clash between the two Democratic hopefuls, Clinton challenged Sanders over his frequent attacks against her and her allies for raising cash from Wall Street and big business.

“Enough is enough. If you've got something to say, say it directly,” Clinton scolded. “You will not find that I ever changed a view or a vote because of any donation that I ever received.”

She went on to call Sanders’ argument an “artful smear.”

For his part, Sanders bemoaned the influence of lobbying and big money in politics: “There is a reason why these people are putting huge amounts of money into our political system,” he said.

2. Clinton Tries to Shut Down Sanders’ Establishment Argument

The attack Sanders has been using on the campaign trail -- trying to label Clinton his "establishment" opponent -- happened again tonight.

"I will absolutely admit that Secretary Clinton has the support of far more governors, mayors, Members of the House. She has the entire establishment or almost the entire establishment behind her," Sanders said before touting his support from "ordinary Americans.”

But Clinton hit back: "Senator Sanders is the only person who would characterize me a woman running to be the first woman president as exemplifying the establishment."

3. Democrat vs. Democrat Progressive One-Upsmanship

Over the past week, Sanders has been challenging Clinton’s record as a progressive (she’s only one on “some days,” he said). But tonight, Clinton came armed with talking points to highlight her own progressive chops.

“It is fair to say, Senator, that in your definition, as you being the self-proclaimed gatekeeper for progressivism, I don't know anyone else who fits that definition,” Clinton said, ripping into her challenger.

“If we're going to get into labels, I don't think it was particularly progressive to vote against the Brady bill five times. I don't think it was progressive to vote to give gun makers and sellers immunity. I don't think it was progressive to vote against Ted Kennedy's immigration reform,” she continued. "So, we can go back and forth like this. But the fact is most people watching tonight want to know what we've done and what we will do.”