Faber Comments on Bank of America (BAC) Common Stock Offering

On CNBC, David Faber comments on the Bank of America (NYSE: BAC) equity offering which has yet to be priced. Faber said he has heard half the deal is done so far. He said investors want to talk to BofA CEO Ken Lewis face to face to make sure they are doing the right thing.

After the close, BofA reported worse-than-expected earnings, announced a dividend cut and said it would raise $10 billion through a common stock offering.

Shares of Bank of America are down 14.2% today to $27.65.

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