Happens all the time.
e.g. https://www.nytimes.com/2020/07/23/business/economy/hedge-fu...
e.g. https://www.nytimes.com/2020/07/23/business/economy/hedge-fu...
“ It remains unclear how big of a role hedge funds played in March’s meltdown — even how many and which funds were involved remains hazy. ”
Hedge funds were most certainly a part of this problem, and were bailed out.