Paterno will be lucky not to do time. It's just the tip of the iceberg. These officials were in denial that such a scumbag could be working in their midst. I lived in Pittsburgh for six years, but these rioting and apologetic students should be ashamed of themselves. This man was abusing children since 1999! In 2002, a witness to a brutal scene of abuse reported it to Paterno and he did nothing more than tell his supervisors. You would think there would be some kind of follow-up and definitely a call to the police. And now, there seems to be evidence that the Second Mile organization was involved in the scandal or at least had knowledge of Sandusky's actions. I wonder if these rioters would be out there if it was one of their younger brothers.
I don't think the kids really understood at that point; they were reacting. They're young and were impassioned, and they were wrong and behaved very badly. But it seems that once they became aware of the facts, they calmed down and took positive actions.
AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.