Read more at Think Progress or Public Knowledge. The question is whether bad news is good news for AT&T or whether it shows their weakness towards lobbyists, government aides or self-censorship for business sake. Commenter dlet thinks,

Censorship…brought to you by the same company that helps the government to illegally eavesdrop on you. AT&T. Reach out and spy on someone.

Update: I added the LiveLeak video, which has the edited and unedited version. The lyrics censored were,

George Bush, leave this world alone.(the second time it was sung)

George Bush find yourself another home.