This was extensively covered 5 years ago.
Top 10 reasons why this video matters now
1. The video released by the Daily Caller last night does include footage the media never broadcast or reported on.
2. Now we know the media and the Obama campaign "selectively edited" the video in 2007 in order to cover up Obama's divisive racial rhetoric
3. Past is prologue. Always
4. Obama grew up in Hawaii and Chicago, so where in the world does that hilariously fake southern accent come from?
5. In order to stoke racial division and resentment, Obama lied to his audience.
6. Obama is prone to believing and spreading dishonest and wildly false conspiracy theories.
7. At the 19:20 mark we learn that the Christian Obama doesn't know the Lord's Prayer.
8. Obama's "us vs. them" rhetoric and beliefs extends to his governance.
9. At the 20:10 mark, Obama laments the social injustice that created 37 million Americans living in poverty and pledges to fight that injustice as president.
10. When Obama gave this speech the Reverend Wright scandal had yet to break.