2. The behavior of a "non-hacker", quitter, wimp etc.
3. Walk away from a serious or solemn obligation obtained under false pretenses leaving your friends, associates and supporters in extremis.
Coworker: Your emails to that slut in your secretaries office were just made public. What are you going to do?
Boss: Bailin like Palin...see ya.
Football fan: When TO doesn't get the ball he's balin like Palin