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past tense and obsolete past participle of break (v.); extension to "insolvent" is first recorded 1716 (broken in this sense is attested from 1590s). Old English cognate broc meant, in addition to "that which breaks," "affliction, misery."
To make a maximum effort; stake everything on a big try •This was the battle cry of the 442d Regimental Combat Team, made up of Japanese-Americans, in World War II
[1940s+ Hawaiian English; fr a gambler's last desperate or hopeful wager]