Lehman Brothers’ collapse struck at the heart of the global financial community but the investment bank’s demise was felt as far away as Tumbarumba, a sleepy hamlet in the foothills of the Snowy Mountains in New South Wales, where municipal councils, charities, hospitals and universities face significant losses.
Those losses are hampering local communities, starving councils of funds to invest in playgrounds and drainage systems and depriving charities of resources to protect the underprivileged.
