This is a rush transcript from "Your World," August 16, 2012. This copy may not be in its final form and may be updated.

NEIL CAVUTO, HOST OF "YOUR WORLD": Well, "Your World" is front and center right now.

Do any of you remember this?

(BEGIN VIDEO CLIP)

DOUG WILDER (D), FORMER VIRGINIA GOVERNOR: We all know he's gaffe-prone. But when you make a statement that says they are going to put "Ya'll back in chains," which means I'm OK, not going to happen to me, and they...

CAVUTO: Well, that's interesting, yes, yes.

WILDER: We will work through it, but ya'll will be in chains.

Now, slavery is nothing to joke about.

(END VIDEO CLIP)

CAVUTO: That became a big issue at the White House today.

(BEGIN VIDEO CLIP)

UNIDENTIFIED REPORTER: You don't understand why Wilder would be offended by the comments?

JAY CARNEY, WHITE HOUSE PRESS SECRETARY: I understand that one person has expressed his opinion that he's offended by it.

QUESTION: This is more than one person.

(CROSSTALK)

UNIDENTIFIED REPORTER: This is the first African-American governor since Reconstruction.

CARNEY: The vice president's intention was clear. What he was talking about is clear.

(CROSSTALK)

UNIDENTIFIED REPORTER: ... It's obviously not clear.

CARNEY: Is it not clear to you? Was he not talking about Wall Street...?

(CROSSTALK)

UNIDENTIFIED REPORTER: I thought -- personally, I think when you use the word chains in a crowd with many African-Americans you better be careful of what you're talking about.

CARNEY: I think the vice president at a later event made clear that his word choice was off.

(END VIDEO CLIP)

CAVUTO: Well, it started here and now Fox on top of the fast and furious reaction everywhere.

Welcome, everybody. I'm Neil Cavuto.

And Doug Wilder likes to tell me he's just a modest former governor, but in his scathing attack of Joe Biden, this particular former governor stood out. For one, he is a Democrat, and for another he is an African- American, the first African-American governor in this country.

So, let's just say when this otherwise gentlemanly Virginian gets upset and catches something a certain vice president apparently even now just doesn't get, well, this line gets noticed.

(BEGIN VIDEO CLIP)

WILDER: Speak to them as equals, and not they are going to put ya'll back in chains, which means you are separating yourself from you all.

(END VIDEO CLIP)

CAVUTO: And again this from a stammering White House dash a stammering White House.

(BEGIN VIDEO CLIP)

UNIDENTIFIED REPORTER: Do you think that first African-American governor since Reconstruction is, as you put, it trying to make something out of nothing and distract from policy debates, or does he have a point?

(CROSSTALK)

CARNEY: He doesn't have a point. The vice president was talking about Wall Street reform.

(END VIDEO CLIP)

CAVUTO: All right, Governor Wilder is back with us right now.

Governor, good to have you back on the phone.