Song lyrics, like poetry, mean what the listener thinks they mean. Your guess is as good as ours. Broken-hearted: someone who has lost a love (usually been dumped) faith-departed: someone who no longer believes in ***.
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He makes reference to Frank Sinatra; Frank´s close friends used to call him Frankie (records said the first in call him Frankie was Lucky Luciano); and in fact, he says "I did it my way" in his song MY WAY.
So, Bon Jovi sings: like Frankie said "I did it my way.........."