what you describe isn't really all that different than old man Morgan and Jesse Livermore providing liquidity when the markets looked to seize up in their era. in that sense, there pretty much always has been and probably always will be a LOLAR (Liquifier Of LAst Resort).
i have to say i'm tired of hearing people claim PPT is responsible for their EXPE shorts going bad etc. ok, i guess after this morning they are no longer claiming PPT was responsible for that one. -g-
lots of people using it as an excuse for their own poor decisions.