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I'm sure Lord Howe lost much more than just one species of tree lobster.

You're right. go down to page 26 of this pdf: http://www.environment.nsw.gov.au/resources/threatenedspecie...

Makes for scary reading!

That assumes nothing else in the ecosystem was dependent on the lost species.

You think the rats won't continue to displace other species? And what happens to the rats when there's nothing left to displace? And then what happens to the cats?