Obviously another conspiricy theory!! ( thought I'd get in first with this )
This has been known for a while, like most conspiricy theories, follow the money and you find a Rockefeller or a Rothschild.
"The more Greenberg wrote in promotion of the Abstract Expressionists, and particularly Pollock’s "action painting," which involved dripping paint on the canvas, the more he collected them at minimal prices before he had made them famous. And as he increased his own power and influence, the more people wanted to buy these paintings, which served Greenberg’s real personal objective; to make himself rich.
Fortunately for him, like the military industrial complex, he had a helping hand in the federal government. As Frances Stoner Saunders explains in her brilliant book, Who Paid the Pi ... and the Cultural Cold War, the CIA covertly supported the Abstract Expressionist movement by funding exhibits all over the world in promotion of the idea that the culture of freedom was superior to the culture of slavery, and by covertly promoting the purchasing of works by various private collections. Indeed, the CIA named its biggest front in Europe the Congress for Cultural Freedom. It worked. Soviet art became a laughing stock, and New York became the center of the art world, not Paris, where Picasso, a long-time member of the Communist party and winner of the Stalin Peace Prize (who can forget his doves of peace?), still reigned supreme.
The CIA had stolen the show from Picasso, taking art a step further into a near mystical expression of unfettered human liberty in the spirit of free enterprise. Nelson Rockefeller, whose family created the MoMA, actually referred to Abstract Expressionism as "free enterprise painting." But like so many Rockefeller ventures, it was state supported, so that his own collection of Abstract Expressionist works ended up being worth a considerable fortune.
But why, then, did it come to an end? The Cold War exploded into the Vietnam War and rebellion overtook the arts. The social revolution of the Sixties brought with it Pop Art, Op Art, and various forms of social protest art, forcing Abstract Expressionism to the sidelines, even if prices were still good. Confronted with James Rosenquist’s "F-111," abstraction lost its force. Even more than this, the answer lies in a paraphrasing of a remark by comedian Mort Sahl about why the student movement ended. "The government withdrew its funding.""
http://www.lewrockwell.com/orig3/cummings3.html