Making do with $500,000

Not surprisingly, I don't have much sympathy for financial industry employees who are facing $500,000 salary caps when their companies get assistance from the federal government.

I don't actually begrudge them the huge salaries they've pulled down in the past. I mean, yes, some of the sums are ridiculous. But I am willing to accept that if you're on a performance-based compensation scheme and you're meeting your objectives--and the company is doing well--then the rewards may be high.

But the flip side of that is if the company is floundering, there's no justification for continuing to earn the big bucks and maintaining the lifestyle that goes along with them.