There are a number of different actors involved in what appears to be just a three person discussion. Let's look at each in turn, then see how they apparently interacted.
James Carville is needling Novak. Carville knows stuff about the entire Plame Affair that he is not in a position to talk about, and Novak knows it. Carville's wife, Mary Matelin, was on the White House Iraq Group that coordinated the smear of Joe Wilson. With that underlying background the normal banter between Carville and Novak can be a lot more harsh than is apparent to us outsiders.
Novak is feeling the heat. Not only did he recently break his lengthy silence and write a very defensive column on his role in the Plame Affair, it wasn't well accepted. Novak may also have heard about the indictments of Larry Franklin and Steven J. Rosen and Keith Weissman of the American Israel Public Affairs Committee (AIPAC.) That indictment was for a violation of 18 U.S.C. 793 (d), otherwise known as the Espionage Act, and for conspiracy to do so. In the indictment the U.S. Attorney specifically mentions "unlawful communication, delivery and transmission to persons not entitled to receive it, including members of the media." See Mark Kleiman.
Ed Henry is under new rules at CNN. CNN has recently announced that it is moving towards hard news as a way of differentiating itself from the competition. The recent cancellation of Novak's CNN shows establishes that CNN really doesn't need him much. As a result, I think Ed was planning to be more aggressive in his questioning. He did not protect Novak from Carville's needling, and the copy of "Who's Who" on the desk was a sign that he intended to try to make news with Novak's responses.
Put it together With this mix, Novak was feeling endangered before he came in, especially with Fitzgerald looking at prosecuting violations of the Espionage Act. Novak is not likely to be blindsided, so he probably had a plan to walk out if stuff got bad for him. The "Who's Who" on the desk and the advance warning that Ed Henry was going to ask about the Plame Affair were indicators that the show could get difficult, and he was not gong to be cut any slack. Then Carville's needling fed into his feelings of discomfort, and he uncharacteristically slipped when he said "Bullshit" on air. It was clear to him that he was going to get no mercy in that venue, so he activated his previously prepared plan and walked out.
I will discount the speculation that Novak had been drinking. He has slurred his speech forever, and apparently has ill-fitting dentures. The speculation that Novak did not realize the show was going out live and tried to spoil a portion of the tape so that it would not be used seems unlikely. Novak is simply too media savvy to not know every aspect of how the show was being prepared and transmitted.
That's my current best guess.
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