You have made several statements that I am at a loss to understand;
now what if the insurance mergers with another firm, they don't have to honor the agreement,
How do you figure? The firm they made the agreement with is Prudential Insurance. Why wouldn't any potential buyer of Prudential honor an annuity contract? If that sort of thing happened it would be a litigation nightmare. I don't think that is a concern however. Prudential has been around a long time.
and then to top it all off pensioners like myself don't get a pay raise from these bonds that is held basically hostage by wall street,
Sorry, but this sentence really doesn't make any sense. The article states "Bonds and other securities". If the original company Pension plan included COLA increases, why do you think it wouldn't now? And what do you mean by saying the bonds are "held hostage by Wall Street"? By what mechanism?
they can sink anyone if they want to, looked at what happened in the housing market a lot of these insurance companies and banks where tied to that 2008 mess and those bonds
How do you think Lockheed, or any other firm that has a pension fund, for that matter, manages those funds? Seriously, what is it you think they do? Just sock away stacks of hundred dollar bills in a vault and dole them out to retirees?
All pension funds are invested in the market, and hold bonds, stocks, futures contracts, currency contracts, international assets etc. If you were to actually look at the list of assets held in a large pension fund, you would realize that they invest the money rather substantially.
Here is the
CALPERS investment portfolio from 2016/2017. The CALPERS pension plan covers 1.6 million California public employees and has over $300 billion in assets. While this portfolio does have mortgage bonds, it also has Bonds from The Philippines and all over the world, along with stocks and various other asset classes.
And by they way, not every bond is a mortgage bond, not by any stretch of the imagination. The bonds that were manipulated by certain firms and repackaged and then defaulted back in 2008/2009 are one segment of the overall bond market.
and the tax payers bailed them out.
. To a degree, yes, but with very few exceptions, the vast majority of money given to financial firms by the Treasury was PAID BACK WITH INTEREST. This ongoing MYTH that the Federal Government just backed up dumptrucks full of cash to the back door of troubled banks and said "Here ya go!" is utter nonsense. That's not how it happened.
and people are still homeless from that BS
Yes, I'm sure many are, but that had absolutely nothing to do with anything related to what this OP is about. Nothing.
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