1) Full video is released by Breitbart. Video shows Obama praising Professor Bell but not specifically mentioning his beliefs which are essentially 'black=good, white=bad,' nor does Obama say anything specific like he agrees with Bell when he says x..y..z.
Check. Obama says "open your hearts and minds." An endorsement of the man, but allows Obama's allies some wiggle room.
2) We learn more about who this Professor Bell is and what he believes. It will most likely make Jeremiah Wright look like Rush Limbaugh.
3) Conservatives will be outraged and point to it as proof of Obama's Marxism and how the MSM is covering it up; liberals will call the whole story racist.
The rest pending...
4) The MSM will ignore the story and no will ask the President about it. Fox may sneak in a question to Jay Carney but he will belligerently swat the question away and insinuate racism.
5) Eventually though, a slow news-cycle arises and someone from the State-controlled Media will ask Carney or the president about the video. The answer will be along the lines that Obama was fighting for academic diversity and isn't freedom of opinion what America is all about? Isn't the old saying, 'I hate what you are saying but I will defend to the death your right to say it?' And other such dodges.
6) Story will fade away and conservatives will be branded as racists yet again.
7) November election.
Damn I'm good.