I disagree with one small point you made Tikay, when you said Schaefer's mate Carl Olson is just an all in merchant. Schaefer has said that out of the 2 of them Olson is the better player. He is ranked number 11 in the pocketfives online tourney player rankings if I may quote-
One of the top tournament players in 2005 on both UB and PokerStars. Won the May 2005 TLB on Stars. Winner of the $100k guaranteed on Paradise in August, 2005. Received more than $50k for a chop in the WCOOP $1000 PLO tourney. Also had a 2nd place finish in the 2005 EPT event in Deauville, France
If you check his poker stars results you see that he has won over $200,000 on that site alone and he is also one of the most respected posters on the 2+2 MTT forum. I know you played with him at Deauville but there could be any number of reasons why he thought going all in was the best way to play at that time. Perhaps now you might see some reasons for his play instead of thinking (the way I saw it anyway I know you're not trying to be rude) that he's just a fish. It may well be the case of course that he's a good player who for whatever reason played badly at that time?