Jewish Right of Return

According to Juan Cole, the Iraqi Minister of Housing and Rebuilding has said that Iraqi Jews will not have the right to return to their homes or be compensated for their losses. Since I'd never heard of this before, I'm assuming the very existence of the rumor was related to conspiracy theories about the war on the Iraqi street. I care about this issue mostly on the symbolic level, as in practical terms, I don't think anyone - Palestinian or Jewish Arab - is going back to their pre-1948 homes. I hadn't realized just how much of the population of Baghdad used to be Jewish, though.