Unethical Unemployment Claims?
I just read an article in one of my favorite (very sarcastic…) series ever hosted by CNN. It runs stories about average couples who are impacted by the slowing of our economy. You can read the article here.
After reading it, I’m somewhat mystified by the couple it highlighted. A quick run down goes like this…
The couple both were employed by sub prime mortgage issuers. Both were laid off when the mortgage companies started to lose money. Now they collect unemployment ($425 per week) from the government.
Some choice excerpts:
Their home equity line, mortgage, health and life insurance premiums alone cost about $10,000 a month. Still, they are trying to hang onto what they call their dream home with a view of the Pacific Ocean where they live with Mysti’s 11-year old son.
…And they’ve made cutbacks: trading in Kent’s Corvette for a Suburban and getting rid of the gardener…
Since he lost his job, Kent has gotten a real estate license and is trying to start a business selling the rapidly increasing inventory of foreclosed homes in Orange County, Calif. Mysti is trying to build an online business selling jewelry and beachwear, some of which she designs herself.
They’re to the point frankly where they would rather get laid-off so they can go collect unemployment than be employed and make no money… (speaking about other real estate agents currently trying to sell houses)
So you and I are paying unemployment for these people? We’re actually subsidizing the start up of two businesses? I always thought unemployment was supposed to be for people who were actively seeking a job, but were unable to do so.
And cutting back? A Suburban? When I think of getting a cost saving vehicle, I automatically think Suburban…