Sean Wallis finally gave us the "context" to his infamous Lehman Brothers "joke" at the BRICUP fringe meeting to the UCU Congress. He had previously denied anti-Semitic intent but given no plausible alternative explanation for his remarks meant.
In my view, Wallis' "explanation" is precisely what you would expect out of someone who had maintained virtual radio silence for weeks while scrambling for a leg to stand on. But seeing that I had already expressed my ire, to him and to those who stand by him, I figured it wasn't worth posting on again.
However, the CST blog has a truly stellar post on the subject that really does capture the essence of what is going on here (from a position that is about as charitable towards Prof. Wallis as one could reasonably expect). It comes highly, highly recommended.