Well, no one is forcing me to put my money in that bank. These days, a federal court does not guarantee justice either, e. g. senior shareholders in the Chrysler bankruptcy swindled after Obama called them "speculators" who "refused to sacrifice."
OK...Obama is certainly an anti-business jerk, who would not hesitate to use the bully-pulpit to bash business to further his union buddies. You'll have no argument from me on that. However, the point where the secured creditors lost their standing is that they all appointed JP Morgan Chase to negotiate for them. And Chase wanted to settle.
Now, the whole business of this affair may stink, but they already waived their rights...just like the Citi account holders waived their rights to jury trials.