Just Curious....I want to know why people bought these partly...

Just Curious....
I want to know why people bought these partly paid shares/warrents in the first place?????
Were they after the high dividend yield? If so did they not realise that if the share price falls you are behind the 8-ball. Did they not realise that dividends can and do get reduced/cancelled?
Would be interested to hear from someone who did actually buy these "toxic assets"
Second question...
why did Mr Bolton increase his exposure (upto almost 20%) when he realised he was in deep shit. I mean if I was in his position I would have "gifted" my BCS shares/warrents to my dying Nan or the Salvos.