Editing Watchmen (section)

=== Plot ===
In October 1985, New York City detectives investigate the murder of Edward Blake. With the police having no leads, costumed vigilante Rorschach decides to probe further. Rorschach deduces Blake to have been the true identity of "The Comedian", a costumed hero employed by the U.S. government, after finding his costume and signature smiley-face pin badge. Believing that Blake's murder could be part of a larger plot against costumed adventurers, Rorschach seeks out and warns four of his retired comrades: shy inventor Daniel Dreiberg, formerly the second Nite Owl; the superpowered and emotionally detached Jon Osterman, codenamed "Doctor Manhattan"; Doctor Manhattan's lover Laurie Juspeczyk, the second Silk Spectre; and Adrian Veidt, once the hero "[[Ozymandias (Watchmen)|Ozymandias]]", and now a successful businessman.

Dreiberg, Veidt, and Manhattan attend Blake's funeral, where Dreiberg tosses Blake's pin badge in his coffin before he is buried. Manhattan is later accused on national television of being the cause of cancer in friends and former colleagues. When the government takes the accusations seriously, Manhattan exiles himself to Mars. As the United States depends on Manhattan as a strategic military asset, his departure throws humanity into political turmoil, with the Soviets invading Afghanistan to capitalize on the United States' perceived weakness. Rorschach's concerns appear validated when Veidt narrowly survives an assassination attempt. Rorschach himself is framed for murdering a former supervillain named Moloch. While attempting to flee the scene of Moloch's murder, Rorschach is captured by police and unmasked as Walter Kovacs.

Neglected in her relationship with the once-human Manhattan, whose godlike powers have left him emotionally detached from ordinary people, and no longer kept on retainer by the government, Juspeczyk stays with Dreiberg. They begin a romance, don their costumes, and resume vigilante work as they grow closer together. With Dreiberg starting to believe some aspects of Rorschach's [[conspiracy theory]], the pair take it upon themselves to break him out of prison. After looking back on his own personal history, Manhattan places the fate of his involvement with human affairs in Juspeczyk's hands. He teleports her to Mars to make the case for emotional investment. During the course of the argument, Juspeczyk is forced to come to terms with the fact that Blake, who once attempted to rape her mother (the original Silk Spectre), was actually her biological father, having fathered her in a second, consensual relationship. This discovery, reflecting the complexity of human emotions and relationships, reignites Manhattan's interest in humanity.

On Earth, Dreiberg and Rorschach find evidence that Veidt may be behind the conspiracy. Rorschach writes his suspicions about Veidt in his journal, which includes the full details of his investigation, and mails it to ''New Frontiersman'', a local right-wing newspaper. When Rorschach and Dreiberg travel to Antarctica to confront Veidt at his private retreat, Veidt explains that he plans to save humanity from an impending nuclear war by staging a fake alien invasion and killing half the population of New York, forcing the United States and the Soviet Union to unite against a common enemy. He reveals that he murdered Blake after he discovered his plan, arranged for Doctor Manhattan's past associates to contract cancer to force him to leave Earth, staged the attempt on his own life to place himself above suspicion, and framed Rorschach for Moloch's murder to prevent him from discovering the truth. Horrified by Veidt's callous logic, Dreiberg and Rorschach vow to stop him, but Veidt reveals that he already enacted his plan before they arrived.

When Manhattan and Juspeczyk arrive back on Earth, they are confronted by mass destruction and death in New York, with a gigantic [[squid]]-like [[List of Watchmen characters#Alien Monster|creature]], created by Veidt's laboratories, dead in the middle of the city. Manhattan notices his [[Precognition|prescient]] abilities are limited by [[tachyon]]s emanating from the Antarctic and the pair teleport there. They discover Veidt's involvement and confront him. Veidt shows everyone news broadcasts confirming that the emergence of a new threat has indeed prompted peaceful co-operation between the superpowers; this leads almost all present to agree that concealing the truth is in the best interests of world peace. Rorschach refuses to compromise and leaves, intent on revealing the truth. As he is making his way back, he is confronted by Manhattan who argues that at this point, the truth can only hurt. Rorschach declares that Manhattan will have to kill him to stop him from exposing Veidt, which Manhattan duly does. Manhattan then wanders through the base and finds Veidt, who asks him if he did the right thing in the end. Manhattan cryptically responds that "nothing ever ends" before leaving Earth. Dreiberg and Juspeczyk go into hiding under new identities and continue their romance.

Back in New York, the editor at ''New Frontiersman'' asks his assistant to find some filler material from the "crank file", a collection of rejected submissions to the paper, many of which have not yet been reviewed. The series ends with the young man reaching toward the pile of discarded submissions, near the top of which is Rorschach's journal.