USC won't be going down, nor should they. Neither the university, beneficiaries of the university or anybody associated with the university in any way gave Bush and his family that money. It was a couple of criminals who knew Bush through family connections. It's more like a mob type thing.
IIRC, the guys who gave Bush that money were/are being convicted for extortion.
That doesn't matter, now, though. The only people who can incriminate Reggie Bush are himself, his family and the two career criminals who gave them the money. Bush's family obviously won't rat him out, and Bush just paid one of the guys off. The other one should be paid off soon, too.
IMO the only just thing to do in this case would be to vacate the Heisman trophy. But that won't happen. Nobody's going to talk, and the NCAA can't make them.