Not sure Zordon deserves quite the flaming he's getting here. Any CTC guy who started training before the Global Financial Crisis hit has my sympathy (and indeed for clarity, I was one of them). HSBC were merrily throwing near-six figure sums of essentially free, unsecured money from a tiny branch near Southampton at kids as young as 18, with CTC screaming "Live the Dream" at them from the rooftops whilst sending out their SIA tickets to NZ, promising guaranteed jobs at the end of it all in a shiny new EZY Airbus on full, standard, FO contracts. Indeed many of these guys were in possession of a letter signed by the EZY Chief Pilot (many iterations of the post ago) guaranteeing that full, permanent contract when the rug was pulled from under them in 2008. Similarly to 9/11, these guys were in the wrong place when the world changed. Nothing they could have done.
My sympathy runs out for those starting training from mid-2008 onwards. These people knew the score when they started training - flexi jobs, no permanent contracts, no guarantee of work every month. These people pressed on anyway, and are idiots. The free money supply had of course run out by then, so in most cases the Bank of Mum and Dad ponied up the cash - often, unbelievably, remortgaging the family property to do so. These parents, too, are idiots. Harsh, but IMHO true.
As to what is to be done now - as many others have said, supply and demand rules. BALPA may be able to start poking away at agency workers regs, but any court case could take years to come to fruition by which time a new, 'exciting and innovative' way of continuing the slave labour will have been found. The only real way of protecting terms is to cut off the labour supply.