I think it's a bit harsh to criticize the Speaker so much.
Regardless of what we think about MQM, Altaf Hussain is still the leader of a party with representation in the Assembly. Until the courts declare MQM a terrorist organization, the Speaker and government is bound to treat MQM as innocent.
Just my point of view.
In this regard, I will say that PML-N is correct in not being too aggressive against MQM. Let it die it's own natural death instead of becoming a martyr. With the way things are going and the recent news about sending letters of appeal to different countries, it is clear that Altaf Hussain is seeking protection and has failed to get any so far.