When Bank of America (NYSE:BAC) CEO Brian Moynihan launched Project New BAC, a cost-saving initiative, many investors saw the goal of cutting $8 billion of expense by the middle of 2015 as too ambitious. However, as the bank marches through 2013, Moynihan and team are telling investors that the bank is on track to achieve those goals.

In this video, Motley Fool banking analysts David Hanson and Matt Koppenheffer debate whether the bank will ultimately achieve these goals and if its a bad thing for investors if they fall short.