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I don't mind letting people like that string themselves up. A lot of times if I have second pair and someone throws out what smells like a steal, I'll flat call and see how they react on the turn. A check usually means I caught them and it's safe to value bet my hand; a moderate bet means they probably have me beat and I can fold now; another overbet like this indicates an almost certain bluff. Since this guy went ahead and overbet the turn as well, I gave him another call to get more information on the river. His ridiculous all-in was all the information I needed; he very badly didn't want me to call. So I called.
To come at it from another angle, there's almost no good hand that would play this way on all three streets, unless the player holding it was extremely devious and had a great read on me. A weak ace, KQ, or KJ might play this way on the flop and turn, but not on the river. If I had raised him earlier and he comes back over the top of me, I can't know for sure what he has; this way I actually learn more by stringing him along and letting him lead the betting on all three streets.
I could certainly raise him at any point and probably get into a dick-swinging contest, and/or make him fold whatever garbage he caught in the big blind, but it was much easier and more profitable to play it this way. I'm happy with spotting him a 10% chance at some ridiculous suckout, if it gets me his whole stack the other 90% of the time.
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