You are not just another Joe Schmoe. When you spend years in the work force you develop a different type of capital. There's intellectual capital as well as experience and probably most importantly the contacts and friends you've developed throughout the years. If Coach's business went bust he isn't going to be looking through the classifieds or Career Builder but will be making phones calls to people that he knows.
Experience at a very very specific business that went bust for whatever reason?
The people he knows also knew what happened to his business. When it comes to money nobody listens to no sob story.
Intellectual capital - yes which is verified in the form of degrees and credentials . Otherwise it doesn't exist because what you put your heart and soul into for many many years is no longer. If the people in question did know of its existance then it is even worse and you are not respected...

You generalized and made the assertion that college education is useless once your career is established. When in fact it could not only create your career but save it too.
I have seen middle aged successful businessmen go through this exact scenario hence my desire to respond to your post... By the way many an employee will have no problem with their fiscal inferiority to a highly educated employer... In other words, it creates and magnifies your status and continued career development... leaving little room for envy and maliciousness...