Michael Lewis wrote this in Liar's Poker:
Still, the tale has a happy ending. Lehman Brothers eventually went belly up. A battle between the traders and the corporate financiers caused the firm to collapse in early 1984. The traders won, but what was left of the august house of Lehman wasn’t worth living in. The senior partners were forced to go hat in hand to Wall Street rival Shearson, which bought them out.
I'm not sure what "august house" means in the sentence. Wikipedia has this explanation of "august house":
"August House is an independent children's book publisher established in 1978 and currently headquartered in Atlanta, Georgia. August House principally focuses on publishing children's folktales, picture books, early-grade chapter books, and storytelling resource materials."
But that explanation of "august house" doesn't make sense in the context of the sentence written by Michael Lewis.
Can someone help me?