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Robert F. Kennedy Jr. has long asserted that a cabal of Wall Street hedge funds has engaged in a massive conspiracy to siphon wealth from homeowners and siphon hefty profits from the housing market. He claims the conspiracy included rigging everything from mortgage interest rates to property taxes.
While some of Kennedy’s claims and claims from other theorists may be exaggerated, there is no definitive proof of the conspiracy Kennedy purports. In fact, a report from the Urban Institute found there to be little evidence of manipulated interest rates, property tax fraud, or large-scale changes to the housing market as a result of Wall Street’s machinations. Other research has found similar results.
For now, the ‘black hole’ in Kennedy’s theory remains. Until Kennedy presents clear evidence of a housing conspiracy and how it has enabled hedge funds to defraud homeowners and other investors, the scope of its supposed influence remains unknown.