John Thompson confidently predicts that corporate reform has passed the high-water mark.

The collapse of the Rhee story is the tip of a melting iceberg.

The “reformers” are facing a genuine popular revolt.

Nothing they advocate works.

All their alleged reforms are a sham.

Who will be the first to bail out?

Will the hedge fund managers go back to investing in polo ponies instead of charter schools?

It is too soon to pop the champagne corks but it is clear that what is called “reform” is headed for the ash heap of history.

Then we can get back to the serious business of improving our schools.