Michael Richards screwed up. A good comedian can actually use the heckler as part of his routine, and insult the heckler while still playing to the crowd. In Richards' case, though, he lacks the experience and self-control to do this. He's a subpar actor who is trying to be a comedian, and often times, this doesn't work out.
Now that he has flushed his credentials down the toilet, he is going to have to take a long, hard look at himself.
That being said, though, there are some things society probably needs to review. Is it really OK for black people to condemn Michael Richards for his words, while many of them are applauding Chris Rock for his anti-white and anti-black statements? Shouldn't they be condemning people the likes of Chris Rock, Eddie Murphy, etc.? If a white person used the same lines from the skits of Rock, Murphy, et al., I think you all know what the results would be.
There's no one right answer to that question. Some of the answers I've heard on this matter:
1) Maybe people need to grow thicker skins, and stop taking offense to racism, regardless of whether the comedian is black or white. Even though many people find racism offensive, there is still going to be some comedy value in a well-written skit that just happens to use racism to help people laugh.
2) Maybe it should be up to *everyone* to stop using racially charged material in their comedy skits. This would *especially* include many black comedians, who pull no punches when it comes to using racist material (both black vs black and black vs white). Maybe it's up to the black community to lead by example and take the high road.
3) Maybe people are making too big of a deal about the whole situation. Michael Richards is a has-been in Hollywood, and of no real importance. This is about as much entertainment as wondering who the next beau of Paris Hilton will be...
I think we can all agree, though, that Michael Richards has flushed his career down the toilet, and unless he decides to take Robert C. Byrd's place in the Senate in 2012, his time in the limelight has passed.