There is no excuse for not reporting the alleged crime to the police, none, specially this kind of child abuse.
Reports are saying that Penn state is in the process of -managing his exit- I bet there are lots of folks out there having a hard time with that.
If Joe Paterno knew about it and was simply protecting his program rather than protecting this child's welfare, there should be no discussion about letting him resign in an- image damage control- scenario.
He should be fired. Period.
It matters not if the alleged crime happened, what matters is the fact that if Mr. Paterno was allegedly told about it and did not report it to the police.
If all this allegations turn out to be true, the only exit strategy the University should be planing is how to give him the fastest route out of campus after he gets fired. Nobody including Penn State should give a damm about Paternos legacy.
UPDATE: I found nothing more disgusting than listening Penn State young students outside of Paterno's home cheering him on...wonder how many of them have kids..