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I think you're right, in that sorority membership is a commitment, for better and for worse. There are plenty of both and when there seems to be a lot more worse than better, it's time to suck it up. You made a commitment. I would guess that ridiculous financial fines was the only way to hit home with a lot of girls. You can't deny them the possibility to be an officer because the chapter is so huge that opportunity is slight anyway. You can't deny them the opportunity to attend social events or formals because they don't want to go anyway! Ability to live in the house: same. But on the other hand, the financial penalties don't hurt a lot of girls either because Mommy and Daddy just pay it, no questions asked.
I think the next big challenge in Greek life is member retention and there is some creativity that needs to be tapped to solve some of these issues. I would start by making the pledge period more of a challenge (not hazing but not 6 weeks of Christmas either) and a real discussion about commitment with the pledges. All the gifts and adoration might be counter-productive.
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"Traveling - It leaves you speechless, then turns you into a storyteller. ~ Ibn Battuta
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