I think everyone here is missing the point.
Spend all the effort you like in blaming the guys who signed up for these schemes, but the truth is if you'd have been in the same position with the finances to do so you would've done just the same thing.
The real issue here is the fact that we as a pilot group allowed all this to happen. When times were good in 2007-8 my previous company (one with large orange jets) were in pay negotiations with the pilots. We were offered paltry pay increases despite huge profits and RPI greater than the pay rise being offered. The company was opening bases overseas on different crew contracts whilst at the same time proposing this new "Flexi-pay-for-line-training-blah-blah" BS contract.
Not many were prepared to strike though, and many even totally apathetic by refusing to complete the BALPA ballot on strike action.
I myself was accused of wanting to "bite the hand that feeds me" even though I'm not a militant-type individual, and I certainly was aware of what an over-zealous union can do. However I could see what was slowly happening with the Management 'bonus culture' and wanted a fair slice for all the crews efforts. It was obvious they were winning by divide and conquer and most of the crew only cared about their own current situation without considering the future implications.
Now the same pilots who were deriding my concerns at the time seem to be all over this forum blaming the guys who signed up to these crazy proposals for the current situation. I expect fairly soon that EZY, like RYR will be crewed mostly by flexi-pilots and what few guys are left on permanent contracts will be in such a minority they will have no voice whatsoever.
It has gone past the point-of-no-return for LoCo airlines and I have the utmost sympathy for any pilot who gets treated this way - whether they signed up in a recession or not... With the narrow-mindedness and selfishness of us as a pilot group this outcome was always on the cards - whether there were cash-rich cadets available or not.
I feel so fortunate that I got in the industry 12 years ago, otherwise I feel I would be one of these poor individuals living out of a suitcase changing base every few months with no family, money or worthy life.
It's sad that it's come to this.
Good luck to the OP I hope luck shines on you someday soon.