by Calculated Risk on 1/11/2008 04:55:00 PM

Charlie Gasparino reported on CNBC that sources inside the firm have told him the Citigroup write downs could be $24 billion when earnings are announced next Tuesday.

Usually I wouldn't post every discussion of possible future write downs, but these whisper numbers are getting huge. Yesterday, the NY Times reported the Merrill write downs could be $15 billion.

The confessional is definitely open.

UPDATE: From the WSJ: Alwaleed, China to Invest in Citi (hat tip Zigurrat)

... Citigroup ... is hoping to collect a total of $8 billion to $10 billion from a number of investors, likely including at least one fund affiliated with a foreign government ... it isn't clear how much Prince Alwaleed will invest, the Chinese entity is expected to invest roughly $2 billion ...

UPDATE2: From the Financial Times: Citi looks to secure further $14bn in new capital (hat tip Michael)

Citigroup is putting the final touches on its second major capital-raising effort in as many months, seeking up to $14bn (€9.5bn) from Chinese, Kuwaiti and public market investors, people familiar with the negotiations say.

Under the proposal being discussed, the bulk of the money – roughly $9bn – would come from China.