Without being coy about it, Obama declared that race has been an issue in the campaign. "Some commentators have deemed me either 'too black' or 'not black enough,'" he said. "We saw racial tensions bubble to the surface during the week before the South Carolina primary. The press has scoured every exit poll for the latest evidence of racial polarization, not just in terms of white and black, but black and brown as well. And yet, it has only been in the last couple of weeks that the discussion of race in this campaign has taken a particularly divisive turn."

He was referring to the remarks of Ferraro and Wright. About his onetime pastor, Obama said, "For some, nagging questions remain. Did I know him to be an occasionally fierce critic of American domestic and foreign policy? Of course. Did I ever hear him make remarks that could be considered controversial while I sat in the church? Yes. Did I strongly disagree with many of his political views? Absolutely -- just as I'm sure many of you have heard remarks from your pastors, priests, or rabbis with which you strongly disagreed." Yet Obama did not leave it at that. He didn't dismiss Wright as another pissed-off black person stuck in racial conflict:

The truth is, that isn't all that I know of the man. The man I met more than twenty years ago is a man who helped introduce me to my Christian faith, a man who spoke to me about our obligations to love one another; to care for the sick and lift up the poor. He is a man who served his country as a United States Marine; who has studied and lectured at some of the finest universities and seminaries in the country, and who for over thirty years led a church that serves the community by doing God's work here on Earth -- by housing the homeless, ministering to the needy, providing day care services and scholarships and prison ministries, and reaching out to those suffering from HIV/AIDS.

Obama went on to explain what moves Wright and those in the pews who cheered his now-controversial remarks:

Like other predominantly black churches across the country, Trinity Church embodies the black community in its entirety -- the doctor and the welfare mom, the model student and the former gang-banger....The church contains in full the kindness and cruelty, the fierce intelligence and the shocking ignorance, the struggles and successes, the love and, yes, the bitterness and bias that make up the black experience in America.

And this helps explain, perhaps, my relationship with Reverend Wright. As imperfect as he may be, he has been like family to me. He strengthened my faith, officiated my wedding, and baptized my children. Not once in my conversations with him have I heard him talk about any ethnic group in derogatory terms, or treat whites with whom he interacted with anything but courtesy and respect. He contains within him the contradictions -- the good and the bad -- of the community that he has served diligently for so many years.

Obama added that he could "no more disown" Wright "than I can disown the black community" or "my white grandmother -- a woman who helped raise me...and who on more than one occasion has uttered racial or ethnic stereotypes that made me cringe. These people are a part of me. And they are a part of America, this country that I love."

As Obama noted, he was not taking the "politically safe" route of denouncing Wright and moving on, hoping the controversy would fade. He embraced the Wright matter to address uncomfortable truths about race: In fact, in assessing America's ills and needs, Obama declared, references to race are unavoidable. "We do not need to recite here the history of racial injustice in this country," he said. "But we do need to remind ourselves that so many of the disparities that exist between the African-American community and the larger American community today can be directly traced to inequalities passed on from an earlier generation that suffered under the brutal legacy of slavery and Jim Crow." Obama recited the list of past grievances: segregated schools, legalized discrimination, the exclusion of blacks from unions, obstacles to black homeownership, etc. Not ducking a point that does peeve some whites, Obama noted that all this history "helps explain" the present wealth and income gap between blacks and whites:

A lack of economic opportunity among black men, and the shame and frustration that came from not being able to provide for one's family, contributed to the erosion of black families -- a problem that welfare policies for many years may have worsened. And the lack of basic services in so many urban black neighborhoods -- parks for kids to play in, police walking the beat, regular garbage pick-up and building code enforcement -- all helped create a cycle of violence, blight and neglect that continues to haunt us.

Obama noted, that "this is the reality in which Reverend Wright and other African-Americans of his generation grew up." Consequently, for Wright and his peers, "questions of race, and racism, continue to define their worldview in fundamental ways." As if he was taking White America on a guided tour of Black America, Obama was saying very gently, this is how it works over there:

For the men and women of Reverend Wright's generation, the memories of humiliation and doubt and fear have not gone away; nor has the anger and the bitterness of those years. That anger may not get expressed in public, in front of white co-workers or white friends. But it does find voice in the barbershop or the beauty shop or around the kitchen table. At times, that anger is exploited by politicians, to gin up votes along racial lines, or to make up for a politician's own failings. And occasionally it finds voice in the church on Sunday morning, in the pulpit and in the pews.

Not that this makes it right. Obama did not let Wright and others off the hook: "That anger is not always productive; indeed, all too often it distracts attention from solving real problems; it keeps us from squarely facing our own complicity in our condition, and prevents the African-American community from forging the alliances it needs to bring about real change. But the anger is real; it is powerful; and to simply wish it away, to condemn it without understanding its roots, only serves to widen the chasm of misunderstanding that exists between the races."

This is as sophisticated a discussion of race as any American politician has sought to present to the public. And Obama was not done. He turned to whites:

A similar anger exists within segments of the white community. Most working- and middle-class white Americans don't feel that they have been particularly privileged by their race. Their experience is the immigrant experience -- as far as they're concerned, no one's handed them anything, they've built it from scratch. They've worked hard all their lives, many times only to see their jobs shipped overseas or their pension dumped after a lifetime of labor. They are anxious about their futures, and feel their dreams slipping away; in an era of stagnant wages and global competition, opportunity comes to be seen as a zero sum game, in which your dreams come at my expense. So when they are told to bus their children to a school across town; when they hear that an African American is getting an advantage in landing a good job or a spot in a good college because of an injustice that they themselves never committed; when they're told that their fears about crime in urban neighborhoods are somehow prejudiced, resentment builds over time.

Like the anger within the black community, these resentments aren't always expressed in polite company. But they have helped shape the political landscape for at least a generation. Anger over welfare and affirmative action helped forge the Reagan Coalition. Politicians routinely exploited fears of crime for their own electoral ends. Talk show hosts and conservative commentators built entire careers unmasking bogus claims of racism while dismissing legitimate discussions of racial injustice and inequality as mere political correctness or reverse racism.

Obama was not condemning anyone. His key to post-racial transformation? End the blame game. In the end, he argued, black-and-white matters less -- or should matter less -- than issues of class and economic power:

And just as black anger often proved counterproductive, so have these white resentments distracted attention from the real culprits of the middle class squeeze -- a corporate culture rife with inside dealing, questionable accounting practices, and short-term greed; a Washington dominated by lobbyists and special interests; economic policies that favor the few over the many. And yet, to wish away the resentments of white Americans, to label them as misguided or even racist, without recognizing they are grounded in legitimate concerns -- this too widens the racial divide, and blocks the path to understanding.

His bottom line: "This is where we are right now. It's a racial stalemate we've been stuck in for years." How to climb out of this hole? Obama offered no ten-point plans or facile answers. Heavy lifting has to happen on both sides. African Americans must embrace "the burdens of our past without becoming victims of our past. It means continuing to insist on a full measure of justice in every aspect of American life. But it also means binding our particular grievances -- for better health care, and better schools, and better jobs -- to the larger aspirations of all Americans: the white woman struggling to break the glass ceiling, the white man whose been laid off, the immigrant trying to feed his family. And it means taking full responsibility for our own lives -- by demanding more from our fathers, and spending more time with our children, and reading to them, and teaching them that while they may face challenges and discrimination in their own lives, they must never succumb to despair or cynicism; they must always believe that they can write their own destiny."

As for the white community, he added, "the path to a more perfect union means acknowledging that what ails the African-American community does not just exist in the minds of black people; that the legacy of discrimination -- and current incidents of discrimination, while less overt than in the past -- are real and must be addressed. Not just with words, but with deeds -- by investing in our schools and our communities; by enforcing our civil rights laws and ensuring fairness in our criminal justice system; by providing this generation with ladders of opportunity that were unavailable for previous generations. It requires all Americans to realize that your dreams do not have to come at the expense of my dreams; that investing in the health, welfare, and education of black and brown and white children will ultimately help all of America prosper."

Obama ended up at an obvious point: can't we all just get along and "do unto others as we would have them do unto us." But the path he took was not without some courage. He dared to explain -- and somewhat justify -- black anger that can lead to comments that upset whites, while calling for blacks to move past such anger. And he did not dump Wright. He also dared to understand white resentment, but he chided whites (without castigating them) for dismissing or ignoring black anger. Events beyond Obama's control pushed him to make this speech. And, no doubt, political foes and conservative antagonists will continue their crusade to tar Obama with Wright's words. But with this address, Obama presented a candid approach to race. Still, there's no telling if this will help him in his fierce battle with Hillary Clinton -- let alone in a general election, should he secure the Democratic presidential nomination.

While discussing his years of worship at the Trinity Church, Obama noted that by attending services there and imagining "the stories of ordinary black people merging with the stories of David and Goliath, Moses and Pharaoh, the Christians in the lion's den, Ezekiel's field of dry bones," he came to realize that "our trials and triumphs became at once unique and universal, black and more than black." With this speech -- and throughout his campaign -- as he merges his own story with the story of race in America, he is presenting himself also as "black and more than black." And that is a story with no ending yet.

Listen to full speech by clicking video, above right.