It's happening in Germany as well. Universities are banding together to negotiate better deals with publishers - some subscriptions haven't been renewed when the publishers weren't forthcoming. It's not a solution (that would be the wide establishment of independent, self organized/hosted Open Access journals - using Open Journal Systems for example) but it's a start.
Don't forget the university libraries. Yup, researchers are paid by the university, those researchers pay the publishers to place their articles, the peer reviewers are also paid by the university. And then the university has to shell out money to the publishers, so the articles can be accessed.
It would also make a killer tattoo.