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adj. To become financially insolvent and forced into a buyout rescue facilitated by the Federal Reserve during the Bernanke Federal Reserve era.
Due to their greed and reckless lending, Bear Stearns went Bernankrupt, and was absorbed into JP Morgan Chase.
by Mark Sanford March 17, 2008
The condition of the US government and its Ponzi scheme during or otherwise associated with the Barrackalypse.
Bob: How will the US pay the Chinese back their money?
Me: We won't and can't. We're Bernankrupt.
by Alonius February 18, 2010