BANKS: Deposits Guaranteed … Through the great banking houses of Manhattan last week ran wild-eyed alarm.  Big bankers stared at one another in anger and astonishment.  A bill just passed by both houses of Congress would rivet upon their institutions what they considered a monstrous system of guaranteeing bank deposits.

Redactions Revealed: The Six Secrets You Need to Know From the Obama Subpoena Request  —  Former governor Rod Blagojevich's defense team asked Thursday to issue a trial subpoena to the President of the United States of America.  —  The motion, intended to be heavily redacted …

‘South Park’ Episode Is Altered After Muslim Group's Warning  —  A message posted on SouthParkStudios.com, the Web site of Trey Parker and Matt Stone's production company.  —  8:56 a.m. |  Updated  —  An episode of “South Park” that continued a story line involving the Prophet Muhammad …

Liberty, Tyranny, and the Globe — By: NRO Staff  —  I don't know Jim Manzi, but given his out-of-nowhere rant, you'd think I ran over his dog or something.  Feel free to read my book, and the chapter Manzi distorts and cherry-picks, yourself.  You don't need Manzi to interpret it.

Schumer: Obama's ‘counter-productive’ Israel policy ‘has to stop’  —  New York Senator Chuck Schumer harshly criticized the Obama Administration's attempts to exert pressure on Israel today, making him the highest-ranking Democrat to object to Obama's policies in such blunt terms.

Cheney: Telling Leahy to ‘f*ck’ himself was ‘sort of the best thing I ever did.’  —  In 2004, then-Vice President Dick Cheney had a “frank exchange of views” with Sen. Patrick Leahy (D-VT) on the Senate floor over Cheney's ties to Halliburton and President Bush's judicial nominees.

In Pa. House race, identity politics with a twist  —  It's happened so often that it's now a cultural cliche: the gay politician pretending to be straight.  In most parts of the nation, homosexuality or bisexuality is a clear electoral liability.  —  Not in Center City's 182d state House district.

Franklin Graham Regrets Army's Decision to Rescind Invite to Pentagon Prayer Service  —  Evangelist Franklin Graham said Thursday that he regrets the Army's decision to rescind its invitation to him for the Pentagon's National Day of Prayer service on May 6, but expressed “strong support” for the U.S. military.

Exclusive: WellPoint routinely targets breast cancer patients  —  (Reuters) - One after another, shortly after a diagnosis of breast cancer, each of the women learned that her health insurance had been canceled.  First there was Yenny Hsu, who lived and worked in Los Angeles.

GOP brings KBH back into leadership  —  Sen. Kay Bailey Hutchison (R-Texas) is being rewarded for sticking with Republicans in the Senate.  —  Senate Minority Leader Mitch McConnell (R-Ky.) on Thursday appointed Hutchison as a “counsel” to GOP leadership to serve alongside Judd Gregg of New Hampshire and Bob Bennett of Utah.

Democrats at the Edge of the Cliff  —  Democrats are spending trillions at the worst possible moment, with a new poll showing public trust in government at a historic low of 22%.  —  There was always something eerie about the way the Democrats said their health-care legislation was what the American people had waited “70 years” for.

'I've gone from being Churchill to a Nazi in a week': Clegg defends attack on Britain's ‘delusions of grandeur’ over WWII  —  A rattled Nick Clegg today sought to defend himself over his claim that the British people have a ‘more insidious cross to bear’ than Germany over World War II.

In Coal Country, a Culture of Fear  —  Massey Intimidates Workers, Families Into Silence … Charleston, W.Va. — Two weeks after the horrific explosion that killed 29 coal miners in southern West Virginia, it's business as usual for the owner of the project.

SEC Officials Surfed Porn, Ignored Fraud  —  Gov't Report Finds Securities and Exchange Commission Employees Surfing Pornographic Websites at Work  —  On a day when President Obama argued for more government regulation over the financial industry, a new government report reveals …

Conservative Radio Silence On Financial Regulation  —  Yesterday I commented on the miraculous nature of the sudden revival of financial reform.  One other key element in this upsurge is the intellectual disarray on the right.  Conservatives do not know what to say or think about this.

Blankfein: Suit Against Goldman Will “Hurt America”  —  An interesting disconnect exists between Goldman's public posture on the SEC's suit against it over its Abacus 2007 AC1 deal and its private remarks.  The firm has maintained that the charges are baseless and politically motivated …

Burning oil rig sinks in Gulf of Mexico  —  (CNN) — A 1-by-5-mile sheen of crude oil mix has spread across the Gulf of Mexico's surface around the area where an oil rig exploded and sank, a Coast Guard lieutenant said Thursday.  —  “This is a rainbow sheen with a dark center,” …

Pawlenty makes moves in South Carolina  —  Tim Pawlenty is scheduled to visit South Carolina in May.  —  Washington (CNN) - His top advisers have already started talks with key political players in South Carolina, and now Minnesota Gov. Tim Pawlenty, a potential 2012 presidential contender …

From CNN's Jeff Simon  —  Washington (CNN) - The Senate on Thursday passed legislation to scrap its $1600 cost-of-living pay raise for 2011.  Lawmakers automatically receive the pay hike unless they vote each year to stop it.  —  The bill was introduced by Sen. Russ Feingold, D-Wisconsin …