A description of the principles of Black Liberation Theology
Liberation theology, in general, follows the following train of thought:
1) Throughout the Bible, God identifies Himself with the oppressed peoples. Be it the Israelites at the hands of the Egyptians or Philistines, or the poor at the hands of the rich, God is on the side of the oppressed. This is reinforced by many of the Prophets.
2) In the New Testament, Jesus is said to continue this by liberating His people from the oppression of sin. Although spiritualized, this theme continues.
3) Projected forward into modern times, God continues to be on the side of the oppressed and downtrodden. There are flavors of liberation theology for any group that feels oppressed (women's, black, latino, you name it- the only group that probably doesn't have it is white men).
4) While there is a grain of truth in the fact that God hates oppression, it is not unusual for much of the perceived oppression to be purely invented by the holders in an attempt to feel more noble and moral than those whom they perceive to be oppressing them. Interestingly, very often liberation theology is accompanied by and used as justification for actions which are otherwise prohibited in the Bible.
I did a brief look at some various liberation theologies as part of my M.Div.
Regarding the current topic at hand, the preacher is definitely running afoul of IRS regulations regarding non-profit charity organizations and the allowed political activities thereof, as well as falling squarely into tinfoil hat territory. Personally, I won't vote for Obama because I detest much of what he has officially claimed to stand for, and his religious preferences don't even enter into it. I'm kinda surprised this is getting as much play as it is; I'd figure his extreme leftist record would be more germane.