Corporate Pranksters Propose Citizen’s Arrest Of Paulson

Nov 18 2010 | 5:05am 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.


In Depth

PAAMCO: Will Inflation Deflate the Asset Bubble?

Jan 30 2018 | 9:49pm ET

As the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Boost Hedge Fund Marketing ROI By Raising Your ROO

Feb 14 2018 | 9:57pm ET

Tasked with delivering returns on client capital, a common dilemma for many alternative...