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Lehman Bros. denies tapping Fed

Seattle Times- Lehman Brothers on Tuesday denied that it was forced to tap the Federal Reserve’s discount window to stave off cash problems, and maintains that its books remain liquid.

The nation’s fourth-biggest investment bank was battered Tuesday amid reports it needs to raise up to $4 billion of capital because of steep losses linked to the ongoing credit crisis. The securities firm is set to report its first loss later this month since splitting off from American Express in 1994.

Shares of the company tumbled 15 percent Tuesday after market rumors surfaced that it was forced to borrow from the Federal Reserve’s discount window to maintain operations.

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