Clearly the chaos that would be caused by immediate closure must be avoided.

But WHEN, WHEN, WHEN will the people responsible be held accountable?

There is something wrong with the law when someone who has worked the system, and taken money from ordinary (albeit stupid) investors,
walks out scott free.

This is how it goes. If an individual takes out a loan that they find they can't repay, they may lose their home. If someone like Eddie Groves over-reaches, that's OK.

Thousands of mums in a tail spin; shareholders pissed off. Does he get to keep the mansion and the money?

Is there any law under which he can he charged?

" This is how it goes. If an individual takes out a loan that they find they can't repay, they may lose their home. If someone like Eddie Groves over-reaches, that's OK."

Well afterall, I doubt that too many people are saying it is OK, and "Thousands of mums in a tail spin; shareholders pissed off. Does he get to keep the mansion and the money?" is one of the dark sides of the debt run world as we know it!

Eddie the milkman works hard om a milk round to but into or start up a daycare centre and discovers a huge market waiting to be tapped.

Eddie borrows, and borrows and borrows, fees and subsidies (thanks Taxpayers) all the time pushing expansion and loans able to be met initially.

It is all so successful that Eddie is advised to float (go public) and there's a host of people, stockbrokers, financial advisors, bank managers maybe, solicitors, accountants all saying with their debt life addled minds that it is as simple as ABC - so where does greed step in?, Eddie? (he just had drive and ambition, preparedness to work hard - didn't he?) all the debted lifers with addled minds? - I'd reckon a fair bit.

Shareholders? - and they didn't have to buy shares but thought this is a good nag to be on!

Board of Directors? - what really is their input other than thrusting out a hand for a fat fee when you could have quite a few on several boards - like for instance, what would Peter Cosgrove, an Australian of the Year know of a free enterprise business and what a board member should be doing.

It would seem afterall there are many players in the economic circus, all looking for a cut, all taking it while times are good and overtaking it would seem, and so shouldn't the boards be accountable for a public company, and in the debt structured society in which we live, some people could say greed is the fuse to the time bomb.

But yes we have the law to attempt to salvage who if anybody can be held to blame, more people being paid quite handsomely just to sit in judgement, funded courteous again of taxpayers and governments borrowing huge ammounts.
Treasurer of Queensland announced a few weeks back that the state had $400M tied up in the US financial market, and now are close to the perilousness of NSW - who decided on that $400M short term market investment and surely a Treasurer and the treasurey should have had an inkling of events to unfold.

And so federally, we have $22M, again courtesy of taxpayers being used to provide a service from a public company - why not say to every user of the service, (100,000 places) it is going to cost you an extra $6/day for your place - that is the real world Julia, afterall

What on earth does this have to do with travel.

The answer is easy, Prue. If you want to travel to a country where you haven't a clue about its political, social and cultural hinterland then you are what I would call a tourist.

90% of posts on this forum are from tourists, but there are some travellers too. If you don't like it, suggest you just respond to those posts seeking advice on accommo and where to get a gourmet meal, and leave those of us who do think background info is important to get on with it.

Goodness youse lot - whats a bit of politics every now and then?

Prue,
"What on earth does this have to do with travel."
I can appreciate the question and it could be that you may have to wait for the next chapter when the mums' taxis are seeking more scenic routes and short cuts to get them to alternative centres as closures occur.

That's of course if they can afford the extra fuel, but seeing as price has gone down, it's a no brainer for all travellers to travel right now.

And of course a trip to Canberra to see the great founders of the Education Revolution in action ought to be on the itinerary, I for one wanting to see Julia's report card on Arithmetic and whether new Maths are in order for her under the revolution.

Like 22M and 100,000 places, say 30-35 placement days to end of December and it would have cost a whole extra $7/d per placement for users using a private enterprise user pay service already too heavily funded by government; their funding should be more like zero.

<What on earth does this have to do with travel.>

This would not be questioned if it were posted on the Lounge. There, "Anything Goes".

Also, it would be helpful to explain what 'ABC Learning' is.

afterall
your posts are insightful, worth posting and pose interesting ideas, but they are more appropriate for the LOUNGE not this site. This should be maintained just for travel questions.