I'm a president of a fraternity chapter. If I caught wind of my brothers speaking like that I'd hold them accountable, because when they join they pledge themselves to being better men.

Hiding behind the shield of "freedom of speech" is cowardly, and allowing people to spew forth hate filled chants is cowardly. I'm absolutely for freedom of speech, but I'm also for accepting the consequences of whatever you decide to say.

If you're going to talk like an ignorant bigot, expect to be treated like one.

Universities are supposed to be enlightening and enriching the young people enrolled there; a valuable lesson could be taught by taking these guys to task. Similarly, joining a fraternity is about holding yourself to a higher standard, and punishing them (by kicking them out) isn't an infringement on their speech; it's letting them and everyone else know that they take their values seriously and aren't the sort of organization that allows that sort of ignorant nonsense.