in analogy to the torture method of waterboarding; it means having to sit through the mind-numbing, nerve killing, boring recounts of some turd you cannot walk away from for diplomatic, social reasons or just out of respect.
John Stewart (The daily show):
So how did John Kerry convince Karzai to change his mind. Oh I know: listening to John Kerry go on and on, tat's like waterboring.
Drill instructor would line recruits up after meals and force them to down liters of water from their canteens in a ritual they referred to as “waterbowling.”