You trusted Nefario enough to take our money.
He never necessarily extended any trust to Nefario at all. Asset issuers don't have to extend any trust at all to the exchange. You don't have to trust someone to take someone else's money -- the person giving them the money has to trust them to do the right thing with it.
Do you realize that you are aggravating his position? If he did not trust Nefario from the beginning, then he voluntarily put at risk his investors' funds from day 1.
Giga actually has no other option -- he never extended any trust to Nefaro/GLBSE nor did he ever agree to extend any.
False. No other issuers asked for all the crap he is asking up to now (even if many would find profitable to steal their investors' assets in this way).
The contract doesn't obligate him to accept these costs and risks.
Which contract? The one he deleted like a weasel just before requiring for lots of para-legal crap? And which risks? To actually pay back his investors? You call that a risk?