I would suggest, after having heard not only the short versions of the sermons, but also the longer ones as well, that the words that people are saying are "code" for racist language is in actuality, language that Reverend Wright was using to tap into deep seated attitudes that he feels the members of his congregation might be harboring, and to then shift the dialogue to help bring them up out of those attitudes. Because of the longer versions I've heard, he always brings the message back to love, forgiveness, and inspiring the listener to make his or herself right with his or her god rather than striking out in retribution at others.

People who make judgements on the shorter versions, or on transcripts of the shorter versions are basing their judgements on ignorance and heresay. You really are not in a position to make those judgements if you haven't heard the sermons in their longer contexts.