Wall Street was abuzz Thursday about Citigroup's behind-the-scenes efforts to exit the Troubled Asset Relief Program, and the conditions under which it would be allowed to.

Would the repayment of $20 billion in Tarp funds necessitate that Citi raise an equivalent amount of capital from the private markets? Could it get away with raising just $10 billion or $15 billion? Would investors be willing to throw money at Citi the way they did at Bank of America Corp.?

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