Bank of America’s (BAC -4.2%) plan to issue common stock to raise funds probably will...

Bank of America’s (BAC -4.2%) plan to issue common stock to raise funds probably will dilute shareholders, but the bigger issue may be a loss of credibility. The move "would have no material impact on long-term EPS," Mike Mayo says, but it "reflects poorly on management who were previously adamant that BAC did not need to raise any additional common capital."