I'm one of those fools! In 1999 I spent close to $11,000 on my MCSE at Boston University. Two nights a week and Saturday mornings in school for nearly an entire year and a whole lot of cramming in between. Just looking at those MCSE ExamCram books sends shivers up my spine!
When I graduated in early 2000, I was very fortunate to realize that the house of cards was coming down and I held on to my current job.
Can't say the training was a total waste though as I have occasion to put it into practice at work and it definitely has made my position there a little more secure. But I still can't look at an MCSE ExamCram book without cringing and regretting all the money I spent on it.