The Wire: What happens to McNulty?

When McNulty hatched his plan to fabricate a serial killer in Baltimore on The Wire, I nearly lost faith in the critically acclaimed HBO series. The plot was so far-fetched, so absurd, so bizarre that it didn't appear to belong in The Wire universe.

The Wire creator David Simon has said that the McNulty's Red Ribbon plot is no more implausible than Colvin's New Hamsterdam scheme from Season 4. I'm sorry, Mr. Simon, you're brilliant for creating the best TV series I've ever watched, but I don't agree. The New Hamsterdam storyline was meaningful and provocative; it's the stuff of a national debate if only more people actually watched this show.

But now that McNulty has accomplished what he and Freamon had hoped for, and now that Greggs is ratting them out to Daniels, what will happen to McNulty?

Some of my wild McNulty theories:
a. He's killed in an angry mob, his body torn limb from limb.
b. He's threatened with jail (and beatings and rape, etc.) and must cooperate with the police and the mayor. Some already dead homeless guy is pinned as the killer, ending the investigation, and Carcetti and the brass can claim all the glory for saving Baltimore. McNulty goes quietly into a forced retirement.
c. He's executed by the mayor's office and his body is staged as a suicide complete with a planted note confessing that he's the Red Ribbon Killer.

David Simon and George Pelecanos are professional storytellers. They have only one more episode to wrap everything up, particularly this McNulty mess. I certainly hope they don't let me down.