Fat, drunk and stupid is no way to go through life, son

A few things that stand out from this clip:
The wacky serial killer-ish look that Michael Richards is sporting nowadays.
His repeated use of the term "Afro-American". I haven't heard that one since the heyday of Archie Bunker.
The Letterman audience giggling for some odd reason.
Jerry Seinfeld chastising the audience for their giggling.

Of course this attempt at image repair was a flop...the only way that Richards can save his career is to claim that he has some type of substance abuse problem, check into a rehab facility and upon release give a tear filled interview to Oprah Winfrey.