However I do agree that this has damaged GLBSE. I will never offer a security on that site under any conditions. The "we do what we want when we want" is too much of a counterparty risk.
Nefario avoids manipulating securities due to theft, i.e. trade roll-backs, but delists securities when an issue directly affects him and is in his best interest.
Both of these issues are complicated to deal with, but there is a sense that's it's all quite arbitrary.
I'll just leave this here.
Open Transactions
+1 the actions indicate that GLBSE acts in its own best interest. The question is, could it afford to do otherwise since the infrastructure is still in its infancy?
The actual problem was created months ago when GLBSE allowed assets to be listed which were used to support scam activities.
Now what we see is the fallout and an attempt to contain the damage by preemptive strikes. Somebody is in the middle of their learning curve...