What is Failout?
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1. When you try to bail someone out, and
2. A level of failure more severe than an
use 1. After David got picked up for public drunkenness, I tried to get him out of jail, but didn't have enough money, that was a real failout.
use 2. Henry Paulson - failout.
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"ahhhhh, I sharted and got a sh..