Quote from the1:
In this particular case I highly doubt this is true. So far this only qualifies as a market correction. The markets haven't fallen enough yet for the PPT to get involved. A Greek collapse may be an event that would require them to get involved and I suspect they have the ability to assemble many banks to support whatever actions they need to take and have the ability to either hedge or exit their position w/o taking on too much exposure or risking such a loss the OP stated.
We keep having down trends with the Bid Ask ratios to the upside. Somebody is protecting their turf and spending some very long coin in doing so...