Lame Duck

(A.), in Stock Exchange parlance, means a member of the Stock Exchange who waddles off on settlement day without settling his account. All such defaulters are black-boarded and struck off the list. Sometimes it is used for one who cannot pay his debts, one who trades without money.

Pitt ... gambled and lost:
But who must answer for the cost?
Not he, indeed! A duck confounded lame
Not unattended wadding ...

Peter Pindar: Proh Impudentiam.

Source: Dictionary of Phrase and Fable, E. Cobham Brewer, 1894
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