A situation in which by your own voluntary actions you have painted yourself into a corner; into a no-win situation. The term is used to refer to a situation which you yourself have contrived and which has ultimately worked out to your great disadvatage. It is a reference to the oft-quoted expression coined by Rush Limbaugh in reference to Alan Greenspan's late 90's fiscal and budgetary policy and tactics in attempting to push it through Congress.
You took a former co-worker's flat screen monitor and told the techies it would be OK with your boss. You then ask your boss and he shoots you down. What a freaking greenbaumbacle.