Top Definition
To suffer complete loss, or to lose everything or all your gear, often in relation to financial troubles, or in social events, generally through one's own ineptness or hubris. A variant of the phrase 'hook, line and sinker'.
After we hooked up I forgot to call her, now she won't talk to me. Dropped the rod on that one.

OMG I think I just dropped my rod getting out of this condo mortgage!!!
by Wynken de Word April 19, 2010
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