Paterno should be stripped of all victories since 1998, when allegedly he first knew about Sandusky.
C'mon, that's ridiculous. I'm no Penn State fan, but those victories were not achieved by gaining an unfair competitive advantage on the field by violating NCAA rules, or at least that's not what the NCAA is coming down on them for.
It's the NCAA here that's sticking its collective noses into a matter that's beyond its historical jurisdiction. The NCAA should confine itself to enforcement of its own rules to penalize behavior on the part of coaches, athletes and administrators that logically gives an unfair competitive advantage to one school over its opponent or opponents.
This Penn State mess is a matter of violations of the state criminal code, not the NCAA rules. The penalties for the guilty should therefore be meted out by the state criminal courts, not the NCAA.
This is not the first time that a college coach or administrator or athlete has been involved in criminal activity concerning "off the field" matters, activity which does not relate to winning and losing athletic contests. Yet, I don't know of any such case where the NCAA has intervened with penalties against the whole school.
There are state and federal criminal courts, and then there are NCAA enforcement procedures. Their jurisdictions are different and should be. In this case, throw a penalty flag at the NCAA and give them fifteen yards for piling on!