But larding a corporate structure on top of all those formerly independent operations requires the efficiencies be quite dramatic to make the whole thing worthwhile.

FORBES: Connect

In the past decade Vanguard's average expense ratio has fallen from 0.42% of assets annually to 0.27%--even as for-profit fund groups have been larding on ever higher expenses.

FORBES: Hidden Treasure

And because the American people deserve to know that special interests aren't larding up legislation with pet projects, both parties in Congress should know this: If a bill comes to my desk with earmarks inside, I will veto it.

CNN: Transcript: Obama's State of the Union speech