The Education Secretary Arne Duncan said that colleges and universities have "a legal and moral responsibility to protect children", and that Penn State's failure to report the alleged abuse would be a "tragedy". The NCAA is considering sanctions against Penn State. Moody's Investors Service is reviewing Penn State's bond ratings for a possible downgrade. On November 14, 2011, the Big Ten Conference announced that its Championship football trophy will no longer be named for Paterno. On November 13, 2011, President Barack Obama said, "It's a good time for us to do some soul searching – every institution, not just Penn State – about what our priorities are, and making sure that we understand that our first priority is protecting our kids."