Updated at the bottom: The Daily Caller posted the video, embedded below.

Today the site Daily Caller has been teasing video of a Barack Obama “race speech” that some in the rightblogger world have been touting as an “October surprise” that could upend a so-far uneven match between the president and Mitt Romney.

The speech in question appears to be one then-Senator Obama gave at Hampton University, a traditional black college, in 2007.

We couldn't find what was so controversial about the talk, but perhaps the Daily Caller and friends have a different clip. In this one (after the jump) Obama talks about the L.A. riots and Hurricane Katrina:

The Drudge Report teases that …

… For nearly 40 minutes, using an accent he never adopts in public, Obama describes a racist, zero-sum society, in which the white majority profits by exploiting black America.

The clip is touted as Obama's “other race video” because, as a candidate in 2008, he addresed race in this speech.

In the Hampton University address, in which background imagery appears to match that teased by Drudge, Obama uses the story of Elvira Evers.

She was an unborn child in her mother's womb when she was shot during the '92 riots. Both survived. It was, in Obama's terms, an allegory for the African American experience in the United States.

The most radical thing he says in the video above?

Those same communities are still drowning and smoldering.

… We have more black men in prison than in our colleges and universities.

Black folks will survive. We won't forget where we came from. We won't forget what happened 19 months ago [Katrina] or 15 years ago [the riots] or 300 years ago [slavery].

We're going to wear those scars proudly because they signify our past and our pursuit of justice. We're going to usher in a new America … We're never going to forget that there is always hope. There's always light in the midst of desperate days.

We can come together as one people and transform this nation.

Um. How racist of him.

Drudge teases that …

OBAMA DECLARES HOW POOR PEOPLE: 'Need help with basic skills, how to shop, how to show up for work on time, how to wear the right clothes, how to act appropriately in an office'

We didn't hear that part, but maybe it will be part of the video to be unleashed by the Daily Caller at 6 p.m. our time.

Back to the riots. Obama says:

And then one afternoon a jury says not guilty. Or a hurricane hits New Orleans. And that despair is revealed for the world to see.

Much of what we saw on our television screens 15 years ago was Los Angeles expressing a lingering ongoing pervasive legacy, a tragic legacy out of the tragic history of this country, a history that this country has never fully come to terms with. This is not to excuse the violence of bashing in a man's head or destroying somebody's store and their life's work. That kind of violence is inexcusable and self-defeating. But it does describe the reality of many communities around this country. … We still have the scars of the riots and the quiet riots that happen everyday.

… We have left the bullet in. Look at what happened in New Orleans and along the Gulf Coast when Katrina hit. People asked me whether they thought race was the reason the response was so slow. I sad, 'Nah — this administration was colorblind in its incompetence.' But … But everyone here knows that the disaster and the poverty happened long before the hurricane hit.

… There are whole sets of communities … that don't have hope.. This disaster's been going on for generations.

Radical, but true.

[Added at 5:58 p.m.]: The Daily Caller posted the video, noting that Obama said the government didn't care about the Katrina-ravaged people of New Orleans and noting that he gave a shout-out to controversial Rev. Jeremiah Wright.

The site says the clip it has is different than other tapes of the event.

The Daily Caller notes that …

… he spent 36 minutes at the pulpit telling a mostly black audience that the U.S. government doesn't like them because they're black.

We are, um, underwhelmed. But you're the voter. You be the judge.

[@dennisjromero / djromero@laweekly.com / @LAWeeklyNews]

Advertising disclosure: We may receive compensation for some of the links in our stories. Thank you for supporting LA Weekly and our advertisers.