Big Eddy's circumspect bids scuppered (9)
I believe the answer is:
charybdis
'big eddy's' is the definition.
(whirlpool or eddy monster of Greek myth)
'circumspect bids scuppered' is the wordplay.
'circumspect' becomes 'chary' (I've seen this in another clue).
'scuppered' indicates anagramming the letters ('scuppered' can mean wrecked).
'bids' with letters rearranged gives 'bdis'.
'chary'+'bdis'='CHARYBDIS'
(Other definitions for charybdis that I've seen before include "Mythical whirlpool" , "Whirlpool, across from 14" , "Scylla's counterpart" , "monster" , "Whirlpool opposite Scylla" .)