A showboating flamboyant rapper from the early nineties. In 1990, off the back of a few lame songs, MC Hammer bought a $12million house and a fleet of luxury cars. Six years later, it all got reposessed when he declared himself bankrupt.
Can be used to describe anyone who optimisticly flashes the cash only to lose it all due to their over-optimism.
As soon as he got a promotion he bought a Ferrari, big house and some artwork expecting to get promoted again and pay it all off before he was 25. But he instead got fired for crashing the car into his Boss' 1980 Rolls-Royce Phantom VI state luaderlet convertible limosuine while showing off.
Now all his shit got repo'd, his phine bitch left him, and he lives with his parents.