Catch Me on CNBC's 'Fast Money' Tonight

i am surprised you willingly put up with that crowd.

I saw the segment. You are absolutely correct about the MBS market. Where is the demand going to come from? The Fed has absolutely dominated the market for the past year. Much of the other buying was done by index funds who had to hold some MBS, other mutual funds, banks to hedge their MSRs, etc. That demand is pretty small.

But at these prices, the natural buyers won't buy. Sure they will, but at spreads close to 100bps wide of where they are now.

As for the housing market stabilizing, did you see the LPS report that came out last week? 7.5M mortgages are in default (I believe those are just first liens). At 200k a pop and a PITI of 1500 each, that is more than 10B of stimulus hitting the economy. How is that stabilization.

And that number is sure to rise - I have seen no slowdown in the increase in the default rate.

And did you see the statistics on HAMP? The average HAMP loan, AFTER modification, had a 60% back end ratio!!!!

The housing crisis is far, far from over.

Once again, you are prohibited from uttering any sort of contrarian words on CNBC, Pete Najarian was basically the only one who even gave you a chance to get a few words in and Melissa Lee actually called Tim out on Chinese inflation which he had absolutely no response to. Reminds me of late 2007 when you were talking about what a terrible recession we were about to enter and everyone, I mean everyone was literally yelling at you for it! Can't wait to hear these guys' take on the market when we are back below Dow 7K...

Mr. Pento, thank you for your attempt tonight. A shame Adami wasn't on, maybe things would have been slightly different? Tim Seymour is a real piece of work. What does he stand to gain from lying to people on CNBS? Unless he's been lying to himself as well.
Please keep us updated with your views, they're much appreciated. A dose of reality is what we need.

Thank you again.

Good segment but it was Seymour that went off; everyone else seemed fine. I don't understand how they have the gratingly annoying guest on every other day and let him speak his drivel and yet Seymour goes off on you! Even if I didn't agree with you, your case was made much more cogently, logically and reasonably than anything said by the other featured guest and you are man enough to address and answer each question given you. Shame that Tim couldn't show the same professionalism. Hope you're back on again anyway!