I agree with the unpleasant before/after job loss theory...I've got a few friends who've been laid off, but most others have (thankfully) made it through layoffs ok. We're all working harder, but even in the good times - and most of us are in finance - I avoided hanging out with people who discussed money or salaries. This is somewhat a cultural thing, since I'm not from around here. Also, when a friend does get laid off, we all put out feelers for job postings, keep in touch with the job seeker, and get together for game night and a potluck. Sensitivity, in these situations, doesn't mean walking on eggshells if someone loses his/her job.

Friends who will treat you poorly, or even differently, in a recession (just in my opinion) were never very good friends.