> One also wonders why reforming the credit bureaus is not a bipartisan priority in Washington. This is a classic “concentrated benefits, disperse costs” probl

> One also wonders why reforming the credit bureaus is not a bipartisan priority in Washington. This is a classic “concentrated benefits, disperse costs” problem that is really hard to solve in society. The three credit bureaus have a huge incentive to maintain the status quo, while millions of people have a small incentive to change it. The three credit bureaus are going to fight a lot harder to maintain the system than everyone else will fight to reform it. It is the same thing you see with our tax system. For individuals, it just isn’t worth it to try to change the system. The effort would cost more than the gain, but the overall cost to society is great.