Off-the-Wall-Street, NYC - (Ass Mess): Four years after Lemon (sic) Brothers settled their $222.5 million Enron class action involving the underwriting of the fallen energy giant's hidden debt, inflated profits and accounting tricks, the Wall Street investment maestro is itself facing Skid Row.
The company has debts of over $613 billion which have gestated slowly to make LB the US's biggest dodgy financial disaster since Drexel Burnham Lambert crashed in 1990.
Lemon Brothers was renamed in August 2007 after flogging off its BNC Mortgage subprime arm following market disgust at pathetic management policies.
"We always reckoned the firm was a lemon," LA FagHagSlagMag City Editor Dave Skank said today.
"Their entire board of directors and management team are headin' for the slammer soon as Obama gets in."