playing low cards against a loose table, when raised big preflop

[the night]

The other day I played in a very loose/weak 1-2 nl game. I was dealt 4 7 spades in the big blind on a full table. First 3 players limp, 4th raises to 10, 2 callers, button raises to 20, sb calls. Its to me, and I had a strong feeling that I should play my hand. This is because there was a lott of money in the pot, most of the opposition probably had hi cards, I had a large stack, and if i hit the implied odds were huge cuz the table was so weak. Also, I had a read that the other players with large chipstacks would not re-raise. Moreover, throwing this money in there would add to the loose image i had, giving me more action later. Still, I opted to fold. 1 limper calls, the original raiser called, the first caller reraises to 30 all in, button makes it 41 all in. After all the action, 5 players were in a pot of maybe $250. Turns out, I would've hit a flush and str8 draw on the flop, and hit the flush on the river. The hands shown included two big slicks, a q j, and pocket 9's. What do you guys think about a play like this given such a loose table?

[maranello11]

I think in a game like this it would be fine to call 10-20 if you are the last to act and have the table covered. Also the stacks need to be somewhat deep to make this play. Also the players need to play weak post-flop meaning cannot make bets with AK when it doesnt hit, that way you can play a flop of 7-j-5. If you can do that, then you will be fine, but you have to be able to make close to a pot-sized bet if checked to you. this all applies to late position. early this is a clear fold.