From the Ebony/Jet website and regular contributor Eric Easter:

Jesse Jackson made a mistake and he has appropriately apologized. His language was unnecessary, his timing off and the venue (Fox News of all places) gave the comment an illegitimate quality that marred the underlying point Jackson was making, though the castration analogy didn’t exactly help either….
It’s not just what you say, it’s where, how, when and to whom that matter as well. He learned a lesson. But according to quite a number of prominent black activists who are strong Obama supporters but “lovingly critical”, Obama should learn a lesson about what he says and to whom as well.
[At issue] is Obama’s Father’s Day speech at Apostolic Church that focused on several points regarding the strengthening of urban families but focused most aggressively on the pathologies of a disturbing percentage of Black men. The fact is that Obama has given some version of his responsibility speech for years…But, as with Jackson’s example, it’s not what you say, it’s all about where, when and to whom.
The fear among critics is that the real audience that day was not the Black people in the pews at all, but the white people in middle America looking for a strong signal that Obama was rejecting the politics of racial division and animosity. By choosing that moment to castigate Black fathers, some worry that Obama gave public voice to what white people whisper about Blacks in their living rooms and cemented his image as a post-racial savior at the expense of Black men…
But the Father’s Day speech is only indicative of a broader issue. Rightly or wrongly, some Black progressives are deeply suspicious of the change in white America that has led to Obama’s position. Specifically that white people don’t just want political change, they want a change in the racial dynamic. And hearing about black problems does not fit into their idea of this new America that will be created when Obama becomes president. There are equal parts of truth, paranoia and resistance to change in that suspicion. That’s one of the reasons Jackson said what he did.
No one realistically expects that the first Black man with a real shot at President of the United States was going to be the reincarnation of Stokely Carmichael, but to the extent that some highly visible supporters are worried that Obama’s move to the center is a move away from urban issues and the community suffering from those issues, Senator Obama has reason to be concerned. Inelegantly, rudely and stupidly, that’s what Jesse Jackson was suggesting.
That don’t make him wrong though.