The following video is only the first part.
Here are the links to the 2nd part and the 3rd part.
Crooks and Liars has the Windows Media version (low-res), for those who prefer that, and here's the Quicktime version (big file--beware).
And what was Bush's reaction? From Editor & Publisher:
Colbert closed his routine with a video fantasy where he gets to be White House Press Secretary, complete with a special "Gannon" button on his podium. By the end, he had to run from Helen Thomas and her questions about why the U.S. really invaded Iraq and killed all those people.
As Colbert walked from the podium, when it was over, the president and First Lady gave him quick nods, unsmiling. The president shook his hand and tapped his elbow, and left immediately.
Yikes.
Tags: [Bush], [Bush's reaction to Colbert's speech], [Stephen Colbert], [Colbert gives speech at White House Correspondents'Awards Dinner]
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