And, RIP JoePa.
The problem is that you don't have all the facts. We do know that he reported the incident to the university officials, his bosses. This must have been a difficult decision given Paterno's relationship with Sandusky and his family for over 50 years. Sandusky played for Paterno at Penn State, starting at defensive end from 1963 to 1965. And he worked for Paterno from 1969-99.
Paterno has admitted he could have done more, but this sanctimonious crap about what he could have done in this instance is 20-20 hindsight. He DID report the incident and relied on the university to follow through.
The universtity officials were fired and so was Paterno. But the good Paterno did in his life far outweigh this lapse in judgment and perhaps, misplaced loyalty or lack of courage to go after someone you have been so close to over half a century. I blame Sandusky for his actions, not Paterno for not pursuing it more vigorously.