This paragraph is the American approach to racism in brief. Cohen can name the root causes. He is not blind to history. But he can not countenance the import of his own words. So he retreats to cynicism, pronouncing the American state too bankrupt to clean up a problem which it created, and, by an act of magic, lays it at the feet of something called "culture."
My rule of thumb is this: if ignoring a situation produces no adverse affect for me, it's a sure indication that I need to be concerned about it.