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Do you think it's possible for a big-time football program to develop a decades-long tradition of excellence and NOT end up "above the law"? I think probably not. So, what then? Term limits?
That's sort of an odd question, imo. It's not like there is something inherently evil about big-time college football programs.
If you're asking something like "does absolute power corrupt absolutely?" I mean of course, this has been proven over time in many institutions.
It starts with the leadership, so the first element of variance is around who's in charge of the institution.
If you feel that even a moral leader can't prevent corruption, than it's about institutional checks and balances (term limits, administration oversight etc), which don't really work in practice when there is too much power concentrated in certain parts of the institution.
Hm - so I guess my answer to your question is it depends and there's only so much one can really do to control for these abuses of power - just human nature imo.