The interesting thing about Borat is that it's seemed to have sparked a debate about racism in the US and some of the conclusions reached seem a bit nutty. Some have used it to argue that there is still a huge wave of underground racism and that the reason people don't reject Borat's ramblings is because they secretly agree with what he's saying. Seeing as I haven't seen the movie, I have no clue if that is the sense that's portrayed. What I have seen is the Throw the Jew Down the Well clip and my conclusion is completely different.
I guess it ties into that whole 'It's not racism if it's funny' idea. You take things in the spirit they were given and if I had viewed this live, I would have thought for sure it was meant to be funny, or if not meant to be funny, at least ironicly so. Chances are I would have been singing and clapping along with the crowd because it's a catchy tune. It's no surprise either that Cohen goes out of his way to try to string-bet people into joining in with the ridiculous lyrics and the fact he dosent even mention the word Jew until partway through.
I'm pretty sure that I'm on track here at least with a segment of the population since I highly doubt I've got any significant anti-semitism floating around in my psyche. For most of my life, I didn't even distinguish jews as a seperate group of individuals from just general white people. They were all lumped together and I actually grew up without any knowledge of the classic stereotypes. I might mock and poke fun at Jewy friends now, but that's pretty par for the course. I tend to take potshots at almost everyone.