is oklahoma covering up a bigger scandal?

A scandal has arisen over a video showing members of the SAE Fraternity at U. of Oklahoma singing an openly racist song on a bus.   Although some words are hard to hear, the overall lyric seems clear:

There will never be a n----- SAE
There will never be a n----- SAE
You can hang him from a tree
But it will never start? with me 
There will never be a n----- SAE

There are a couple of interesting things here.   The first is that it's almost certain the song, or versions of it, go back a long way.   Nobody talks about lynching people today, and the italicized lines appear to constitute a promise that the singer will not break the chain of an all-white fraternity, which was in fact broken some time ago (there was at least one African-American member at Oklahoma and others at different universities).    It's also interesting that at least one participant was apparently a freshman, who most likely learned it from older members.

There is also evidence that the same or similar performances were made by other Oklahoma students, and by fraternity members at other universities, prior to this one.   A video of the SAE house mother repeating the n-word, supposedly miming a rap video, is currently making the Internet rounds.

I don't have any particular sympathy for the two dismissed students or the SAE Fraternity, although I think they should be provided with some kind of (preferably public) hearing, as a procedural matter and also to investigate whether others were involved.   But the rush to expel them and to close down the fraternity inevitably makes one wonder if a larger problem is being covered up.   As stated above, it boggles the mind to think that these kids came up with this on their own, and there's a wealth of emerging evidence that they did it.   Is OU President David Boren, a national political figure, really trying to get to the bottom of this, or acting to protect his own brand?