Now they're raiding frat houses, and it's not a panty raid

It isn't at all clear what this is all about, but it sounds like a terrorism bust. Probably they were throwing darts at posters of Bush:

The fraternity house that inspired the filmAnimal House has been raided by police following a 21-month investigation so secret that the authorities will not say exactly what it is about.

More than a dozen police officers spent five hours searching the Alpha Delta house at Dartmouth College in New Hampshire. They hauled away two duffel bags and 10 crates full of evidence, including a computer tower, a videotape and two sledgehammers.

They also arrested one 19-year-old student for drug possession - marijuana, according to local press reports - but said the focus of the investigation was on something other than drugs.

The university authorities at Dartmouth issued a statement saying that they were co-operating fully with the investigation. All documents relating to it - including affidavits and warrants - are being kept under seal.

That suggests the offences being investigated are serious and highly sensitive.

Alpha Delta became synonymous with spoilt, upper-class students getting drunk, staging pranks and throwing toga parties, thanks toAnimal House, the film released in 1978 starring John Belushi. One of the writers of the hit film, Chris Miller, graduated from Dartmouth College in 1964 and was a member of Alpha Delta, which was the basis for the story.

Hmmm.