Multimillion-dollar parties? That's so '80s

SO Steven Schwarzman throws himself a 70th birthday party complete with camels, a gondolier, a 12-minute fireworks display and a performance by Gwen Stefani - with an estimated cost ranging from an improbable US$20 million to a more likely US$7-9 million - and the tsk-tsking can be heard from coast to coast, as it is cited as one more example of the wretched, over-the-top excess of the new Trumpian era.

Does no one remember the Reagan years? Th…