A large banner with the message "Bonser out" was held aloft by some of the supporters, peeved that the club sold defenders Scott Dann and Daniel Fox to Coventry City when they were in a good position to go for promotion.
The Saddlers at least finished by ending a run of three successive defeats, although they led 2-0 at one stage and conceded an equaliser in the third minute of stoppage time.
Walsall began brightly, with Michael Dobson firing them ahead in the ninth minute from a pass by Tommy Mooney, who was making his final appearance in this country before moving abroad to finish his career. And Mooney went out with a goal, notching his 12th of the season from Dobson's pass in the 15th minute to put the home side 2-0 up.
However, Michael Mackay pulled one back for Hartlepool after 19 minutes from Ritchie Humphreys' cross.
Hartlepool were much the better side in the second half, going close on several occasions before grabbing a draw in stoppage time, James Brown finishing off a low cross from David Foley.