LOL! Dude... i got the sorority one as a forward to my email about 3 years ago. i haven't read the fraternity one before but there are about 3 different versions of the sorority one. I don't think that guy/gal/whoever published the website wrote that. My sisters passed it around for a few months and most of the greeks on my campus caught wind of it too. (my AXO cousin thought it was hilarious.) They just laughed and forwarded it along.
tho it would be kinda cool to have your rich daddy to pay for everything and to own everything designer quality. until then, i will just stick to my blue collar family, my no name handbags, and my self designed clothes.