NEW YORK (
Bank of America
(BAC - Get Report)
CEO Brian Moynihan and CFO Brian Thompson will square off against their critics Wednesday afternoon as they try to stanch the bleeding in the company's share price.
| Bank of America CEO Brian Moynihan
Hosting the call and promising to pose the toughest questions he receives by e-mail will be Fairholme Funds portfolio manager Bruce Berkowitz, a top shareholder. Listeners on the call are also invited to ask questions.
Bank of America has lost roughly half its value in 2011 as the least well-capitalized of the U.S. banking giants and the most heavily exposed to mortgage problems roiling the U.S. economy.
Keefe, Bruyette & Woods analyst Jefferson Harralson believes Bank of America will be able to avoid raising equity, though he believes Moynihan and Thompson "will be reticent" to discuss their capital plans in a public forum, he wrote in a research note published Tuesday. TheStreet will be live-blogging the event beginning at 1 pm EST Wednesday.
Written by Dan Freed in New York