‘Black Rock + State Street + Vanguard are robbing Americans of the ability to own homes’: RFK Jr. has promised Wall Street reforms with $24K GameStop buy. But what are they exactly?

Stop real estate ‘buying spree’

Kennedy is displeased with the purchasing behavior of major Wall Street firms.

In September, he projected that giant financial institutions are on track to own 60% of single-family homes in America by 2030. In the accompanying video, Kennedy stated that whenever a house comes on the market, these investment firms “swoop in” and outbid prospective home buyers with cash offers.

“Black Rock + State Street + Vanguard are robbing Americans of the ability to own homes. I have a plan to stop them — and to start a housing boom for everyone,” he wrote on X.

If elected president, he said he would create a federal program to back mortgages at 3%, financed by tax-free bonds. He emphasized that these mortgages would be available exclusively to individuals, not corporations.

Additionally, he said he would revise the tax code to deter corporations from owning single-family homes.

Kennedy's concerns extend beyond residential real estate.

“Farmland buying spree by Wall Street's mammoth hedge funds and China are turning America’s and the globe's agricultural landscapes into corporate fiefdoms and farmers into serfs,” he wrote on X.

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‘Insider trading problem’ in Congress

Kennedy is unequivocal about his stance on Congress members buying and selling stocks that they have insider knowledge about.

“Congress has an insider trading problem. Congresspeople should not become master day traders the moment after swearing in, exploiting privileged information for personal profit,” he wrote on X in June 2023, sharing a New York Times article about 97 members of Congress reporting trades in companies influenced by their committees.

If elected president, he plans to propose a law banning elected officials from trading in stocks of companies over which they have oversight.

One politician who has received attention for major wins in the market is Democratic California Rep. Nancy Pelosi.

At a cryptocurrency conference earlier this year, an audience member asked Kennedy about his view on stock trading by politicians, specifically mentioning Pelosi.

“I think that should be forbid; she’s an incredible investor, though,” he stated, jokingly calling her a “genius.”