t's the Obama speech on race you probably haven't heard.

In June 2007, then-Sen. Barack Obama told a mostly black audience of ministers that the country's leaders "don't care about" New Orleans residents, suggesting the city was neglected in the aftermath of Hurricane Katrina because of institutional racism, according to an unedited video reported on by The Daily Caller.

In the address, delivered during the upswing of the Democratic presidential primary season, candidate Obama specifically criticizes in outspoken terms the decision not to waive a federal law known as the Stafford Act that requires communities hit by disasters to match 10 percent of federal aid.

---

...at the time of Obama's speech, there were still concerns about federal response to the disaster under the Stafford Act, which governs relief efforts. The Federal Emergency Management Agency was unwilling to waive the law’s 10 percent local match provision for aid, like it did after the Sept. 11 attacks and other hurricanes.

“One reason cited for FEMA’s reluctance to waive the 10 percent match in New Orleans is concern about corruption,” the Joint Center for Political and Economic Studies said in a 2008 report on the relief efforts.

That report also noted that then-Louisiana Gov. Kathleen Blanco was pushing in early 2007 for a federal law eliminating the 10 percent match. The House passed the bill, but it stalled in the Senate and President Bush had threatened to veto it.

Read more at FOX News.