I really think that's pretty good shot chelhman took at it.. but this phrase could mean two things:
The racists here could be, as example, a white supremacist, we know who they are bla bla bla, but it also could be said by a white person, again as example, saying it about lets say African Americans who are so consumed with anger and see all white people as racists, in which case, the opressed becomes the Racist. Hope you see my point, Am I going to far here?
Word for Word: Les racistes sont des gens qui se trompent de colère Racists are people who failed by (their) anger Racists are people Whose anger fails/mileads/misgudes/misdirects/... them