A blustering cheat. Like bully, it is sometimes used without any offensive meaning. Thus the Host, in The Merry Wives of Windsor, addresses Sir John Falstaff, Ford, and Page, etc., as bully-rook—“How now, my bully-rook?” equal to “my fine fellow.”
A bully rake is “one who fights for fighting's sake.” To bully-rag is to intimidate; bully-ragging is abusive intimidation. According to Halliwell, a rag is a scold, and hence a “ragging” means a scolding. Connected with rage.
Source: Dictionary of Phrase and Fable, E. Cobham Brewer, 1894