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.
He didn't do that, his investors did. If GLBSE had run off with their money, would you have argued that's somehow his fault?
If he did not trust Nefario from the beginning, but he resorted to use GLBSE anyway, then he exposed his investors to a third-party risk that he knew about without informing them about it. I think it's kind of illegal, and anyway highly unethical. Like blaming the victims after stealing their money, which is what he's going to do behind the para-legal crap shield he's asking for.
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).
That's kind of a circular argument. If this is his mess to clean up, then he extended trust. And if he extended trust, it's his mess to clean up.
In retrospect, we all should have thought of it, but I don't think anyone considered a sudden, complete GLBSE shutdown likely.
Don't try to shift the blame. Nefario has already sent him a list of investors' assets. The jig is up.
The most common risk is the risk of paying false claims.
There is nothing to claim. The investors' assets list Nefario sent him should be considered true until the opposite is proven. Otherwise it is too easy for him to steal such assets with such lame argument.