Brian Moynihan's Moment Of Truth

Bank of America BAC CEO Brian Moynihan will begin his 90 minute Q&A session with anxious investors at 1 PM EST today. Just minutes from now. The public can listen in here. Although this conference call was scheduled by major shareholder Fairholme Capital weeks ago, it has taken on new significance given that the stock has plunged during the recent sell-off, significantly outpacing the decline in the financial sector as a whole. This is a big risk for Moynihan. While some commentators are hesitating to compare it to the infamous showdown between hedge fund manager David Einhorn and former Lehman Brothers CFO Erin Callan, there certainly is the potential for it to backfire in a similar fashion. Expect BAC shares to be active this afternoon as Wall Street holds Moynihan's feet to the fire.