save $500: join a gym, get in shape, rob a bank

Let's piss off some attorneys, economists, and, my favorites, credit card / bureau / lending lobbyists...

Which penalty appears to be more tolerable:

a.) 46-57 months penalty for poor judgment, $10,000 in additional cost
b.) 84 months penalty for poor judgment, $10,500 in additional cost

For those who chose a.), this is currently the sentence you would serve if you robbed a bank, it being your first offense (base level), possessing a firearm (w/o discharge), and admitted responsibility (http://www.sentencing.us/). You would serve 46 - 57 months in jail (or lesser sentence with probation, etc.), and pay a $10,000 fine. Day 1 month 58, you are free to go; our judicial system believes you have paid the price proportional / fair / adequate relative to your poor choice. $10,000 later, it's a notch in the belt. You will no longer pay direct for your conviction (in other words, you will no longer do any "time" for this crime).

For those who chose b.), this is currently what you would experience if you had an account reported negatively to the credit bureaus and subsequently took out a $150,000 mortgage accordingly; your mortgage lender could / would justify an extra 1.0% in mortgage interest on your $150,000 mortgage interest rate, and $10,500 is what you would pay in additional interest during the 7 years that negative account rode your report.  Day 1 month 85, you are free to go; our legislative system believes you have paid the price proportional / fair / adequate relative to your poor choice. The negative information comes off your report, and you will no longer pay direct for your conviction (in other words, you will not have this negative information cost you any new money).

(but what about that 23 years left on your mortgage?)

Interesting stuff... a bank robber is felt to have been rehabilitated after 5 years from date of conviction and a $10,000 fine, but a consumer who forgot to "formally" cancel his "month-to-month" gym membership is not felt to have been rehabilitated after 5 years from date of conviction and $8,000 or so in extra mortgage interest.

Now, some of you, especially lawyers (and note I should be wrapping up semester 1 law school finals now, but elected to forego attendance to improve my LSAT score), will argue a flaw in my parallel reasoning. I invite you. There are certainly a number of ways to look at this concept. However, think critically here; a bank robber, and a consumer having forgot to formally cancel his gym membership.