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 waddling …”

Peter Pindar: Proh Impudentiam.

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Entry taken from Dictionary of Phrase and Fable, edited by the Rev. E. Cobham Brewer, LL.D. and revised in 1895.