UPDATE: OU President calls racist video 'disgraceful'

UPDATE: Following a rally this morning on the campus of the University of Oklahoma to protest the racist actions of fraternity members caught on video, school President David Boren released the following statement:

Read the orginal story and see the video below.

Videos were posted to Youtube on Sunday reportedly showing the OU Sigma Alpha Epsilon fraternity singing a racist chant the day before.

(Caution: some viewers may find this video disturbing.)

"If the video is indeed of OU students, this behavior will not be tolerated and is contrary to all of our values," OU President David Brown tweeted Sunday. "We are investigating."

Due to the video's content, the Sigma Alpha Epsilon Leadership has closed its Oklahoma chapter at OU.

“I was not only shocked and disappointed but disgusted by the outright display of racism displayed in the video,” said Brad Cohen, the fraternity’s national president. “SAE is a diverse organization, and we have zero tolerance for racism or any bad behavior. When we learned about this incident, I called an immediate board meeting, and we determined with no mental reservation whatsoever that this chapter needed to be closed immediately. I am proud of my fellow board members because we mean what we say.”