It's the biggest story of the day, pretty much everywhere. Former FBI director Louis Freeh releases his findings in the investigation into Penn State's handling of the child abuse case of Jerry Sandusky.
The report is a bombshell to the university. The results criticize how the school handled the entire situation, and blows the attempted cover-up wide open. Louis Freeh addressed the media Thursday morning.
"We are here today because of a terrible tragedy that was allowed to occur over many years at Penn State University. One in which many children were repeatedly victimized and greatly harmed."
The findings in the eight month long report are brought to light. It finds that Penn State's brain trust disregarded Sandusky's victims, in hopes of avoiding bad publicity. The former FBI director's report paints all the main players as culprits, and Louis Freeh names the names himself.
"The most powerful leaders at Penn State University... Mr. Spanier, Schultz, Paterno and Curley, repeatedly concealed facts relating to Sandusky's child abuse from the authorities, the Board of Trustees, the Penn State community, and the public at large."
It bashes the Penn State Board of Trustees. Ken Frazier, with the Special Investigations Unit, says that their carelessness helped allow Sandusky to continue abusing kids for over a decade.
"The Penn State Board of Trustees failed in our obligation to provide proper oversight of the board's operations. To be clear, we are accountable to what's happened here."
On the topic of Joe paterno, his legacy, and how Penn State will remember him, Karen Peetz the Board Chair, isn't ready to say.
"This is something that will need to be discussed with the entire university community."
The Freeh report cost 6.5 million dollars. But the fallout can't be measured in dollars and cents. Many think it's just beginning.