Tuesday, 3 March 2015
Last updated 24 min ago
Nov 18 2010 | 4:05am ET
The Yes Men, a group of pranksters that says it impersonates “big-time criminals in order to publicly humiliate them,” has a funny idea. The humor is, however, likely lost on hedge fund billionaire John Paulson.
The group’s latest target is Apple, whose iPhone the Yes Men note uses minerals that are “largely” mined in the Congo, “fueling a conflict that has killed more than 5 million civilians.” Their weapon? A spoof Apple Web site that looks remarkably like the real thing—“identity correction,” in the Yes Men’s words—on which “Apple” pledges to stop using minerals from conflict areas.
Unsurprisingly, the Yes Men are all about doing it yourself, and one of their “Apple’s” D.I.Y. suggestions is to go after “shareholders and officers of the mining companies that have been implicated in pillaging the resources of the Congo and fueling the conflict in the Congo over the past 14 years.” The mining concern “most responsible for financially supporting rebel groups and furthering the Congo conflict?" South Africa’s AngloGold Ashanti, according to the Yes Men.
And AngloGold’s largest shareholder? Why, none other than Paulson & Co., the $30 billion hedge fund headed by Paulson.
What can you do? A citizen’s arrest of John Paulson, “Apple” suggests. The Web site even directs you to Paulson’s office.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…