Bare Knuckle Politics has the video (note the very prescient last line from CNN's blog reporter); Ed Morrissey has a transcription and some thoughts:

Maybe Bob Novak has had a bad year, but after watching this video twice, I fail to see what got him so riled up. Carville interrupting him? Novak has done too much of that in his career to get sensitive about that now. Carville's needling about showing backbone by standing up to him for interrupting hardly seemed anything more than a playful jab, especially considering what Carville can do when he wants to be mean.

Maybe Novak should think about retirement from television soon. If he can't behave any better than this, the choice may soon be made for him. He simply has no excuse for his language nor his thin-skinned attitude, and he owes CNN and Ed Henry an apology, if not Carville as well.

Update: CNN has suspended Novak, probably more for uttering "bull****" on the air than for walking off, which makes for dramatic Jerry Springer-style TV theater in the long ignoble tradition of Crossfire, which Novak and Carville co-hosted for years.

Another Update: The Political Teen also has video. Meanwhile, LaShawn Barber notes the asymmetrical interest in this story by some quarters.

One More: Mark Steyn has some interesting comments about Novak's incident with Hugh Hewitt's guest host, Jed Babbin.