Time to break out the world's smallest violin again: With President Obama's proposed $500,000 cap on executive compensation—at firms receiving federal bailout money—the plight of the rarefied rich is examined in the NY Times. Today, the Times gives us details like this: "Private school: $32,000 a year per student. Mortgage: $96,000 a year. Co-op maintenance fee: $96,000 a year. Nanny: $45,000 a year. We are already at $269,000, and we haven’t even gotten to taxes yet." Then there's the personal trainer, the gowns for the galas, children's private tutors, four-star vacations... OMFG, Houston is looking pretty good! Holly Peterson, who wrote The Manny and whose dad Peter founded the Blackstone group, puts it dramatically: "Five hundred thousand dollars means taking their kids out of private school and selling their home in a fire sale.” A few days ago, the Times asked some people to remember back when they only made $500,000.