This entire scenario was investigated (as it's happening now more or less) by a Dutch journalist that interviewed bankers and people around the world for a TV network:
http://www.vpro.nl/programma/tegenli...ngen/24877874/
the 50 min. video (in Dutch):
http://www.vpro.nl/programma/tegenli...ites&x=30&y=5#
(I cannot find a full english translation of the page, video, etc. unfortunatly)
But there are many interviews with Morgan Stanley people (!) in this video in english and some others Wallstreet brokers & investors also in english from 2005.....
this is a 2005 (worst case scenario) video broadcasted on national TV in Holland