Goldman Sachs Denies Claims It Led to Copper River’s Demise - NYTimes.com

Goldman Sachs Denies Claims It Led to Copper River’s Demise - NYTimes.com:by Thor Swift
 "Just before the financial crisis began in September 2008, a prominent hedge fund appeared well positioned to take advantage of any turmoil in the markets. That fund, Copper River Partners, had made sizable bets months earlier against companies whose stocks it expected to suffer.
Marc Cohodes worked at his hedge fund for 25 years, and its short bets on the stock market in 2008 had seemed well positioned to profit.
Within weeks, however, Copper River, once a successful $1.5 billion hedge fund, was out of business, having unexpectedly absorbed losses on the very bets it thought would be profitable. While the market turmoil contributed to its problems, Marc Cohodes, head of Copper River, says that a significant force behind the failure was Goldman Sachs, which for years had been the firm’s broker."
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