There is little doubt that Joe Pa could have done more, even he said it himself. However, there are some interesting twists to this story such as the details about why the DA declined to pursue the matter and where that DA is today and all manner of other things that are VERY VERY messy for PA.
If I were a betting person, I would bet that Paterno was satisfied with his treatment by Penn State, and in fact, I'd bet he suggested it - partly as a way of him to do some penance by sacrificing his legacy for his own admitted shortcoming in the way of "doing more", and partly as a way to draw fire away from all the other ugly parts of this story - that go well beyond the University.
Incidentally, for those who weren't aware, Paterno was not actually fired, he technically retired, his pension and benefits and such intact. Obviously if he had not retired, he would have been fired, but the fact remains...
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If ignorance were painful, half the posters here would be on morphine drips.
Everyone playing WoW knows everything about playing two classes: 1) their own and 2) Hunters