Did Obama laud anti-Israel proponent Khalidi?

Lots of bloggers seem to think so. And the LA Times allegedly has the video. Will we see it before election day? Will it matter?
Read Gateway Pundit for the story…
Here’s the intro:

Introduction: The LA Times is holding a video that shows Barack Obama celebrating with a group of Palestinians who are openly hostile towards Israel. Barack Obama even gives a toast to a former PLO operative at this celebration. If the American public saw this side of Barack Obama he would never be elected president.
But, the media refuses to release this video.