My Rails is 3.2.1.4, Ruby is 1.9.3p448.
3.2.1.4
1.9.3p448
I got an error when I install ruby-debug:
ruby-debug
Building native extensions.
I am using Mac El Capitan. In my case it was caused by the missing developer tool. I solved it by installing the developer tool via xcode-select --install. After that bundle install worked fine again.
xcode-select --install