Not at all. Admittedly, Antonio knew in lending the money to Bassanio that he was going to be hiring servants (a livery) and spending the money immediately to put together enough of a prosperous appearance to impress Portia so that she will marry him. But, Bassanio in addition to hiring his livery throws an unnecessary party in Venice before he departs for Belmont. He pays for the lavish celebration with his borrowed money from Antonio. Shylock realizes the foolishness of Bassanio's spending but is more than willing to encourage him in it by going to his party. The more Bassanio spends, the better the chance is that Antonio will not be able to pay back Shylock.
This character flaw of Bassanio has bothered many audiences because it seems to make him an unfit suitor for Portia's wise nature.
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