. >> eric: brenda buttner, host of bulls and bears is live in the new york newsroom. brenda, i wonder if historically, since you track these things, is this turnaround any different from the past, other than it being so long and ongoing? >> yeah. this has been a really tential recession we have seen. and the recovery since then has been very slow and taken a long time to pick up steam. the problem, of course, is that for the last -- well, this is the third may that we have seen this type of problem, that we have seen the job market falter and the stock market falter. and that's a problem because it's alm been largely because of outside events that the stock market has gone down because of the job market because of europe. but the job market -- there is something else going on here. it cannot seem to gain any traction. this is the worst jobs report in a year. now, some of that can be attributed to seasonal problems and also the fact that we had a very mild winter so there were greater gains in the winter. but we have seen, basically, we have been going down since januar

i'm lori roth in for brenda buttner for bulls and bears. tobin smith, jonas max ferris, gary b smith along with todd shown berger and susan. todd, start with your worries. >> absolutely, tell you, laurie, this vote is not going the way that we, wall street, main street, anybody around the globe wants to hear, this is going to be a horrific moment not just for the united states economy, but everybody in main street, right here, usa has to be vitally concerned with what takes place with greece tomorrow. >> do you think the u.s. will see the impact of the the vote. >> zero. let's look at-- (laughter) >> i hate to burst todd's bubble, but we've had a million horrible greek moments the last two years, three years, as far as i know. look, jamie dimon said the impact of a greek default, if it goes that way, on our financial system, we'd be zero. i take his word for it. but even closer to home, are people-- let's just say they elect this government, default, pull out of the euro and all the worst thing that could happen. are people going to buy any

hi, everyone, i'm lori rothman in for brenda buttner and this is bulls and bears. the bulls and bears, gary b smith, tobin smith, jonas max ferris, along with kyle and this downgrade has you concerned? >> yes concerned. i think the markets already priced in this downgrade, in my opinion, hence the reason the market was up a bit today. i've been saying since january that the market is going to have trouble and continued volatility going into the november election and i stick with that point. i believe that the banks have severe problems lending to small businesses is only going to continue to be a problem and they're going to need to look to other ways, the atm feeds increased or quarterly statements in order to keep solvent. >> i don't know, s & p downgraded the banks six months ago, this is more or less a downgrade on the entire financial industry, given what's going on in europe and the debt crisis there. >> i agree. to me, i agree with most of kyle's point, but this is kind of after the fact. basically moody's came out and said things are going to have trouble m

hi, i'm brenda buttner. this is "bulls and bears." the bulls and bears this week gary b. smith, tobin smith, jonas farris along with mike camp. and former dnc deputy finance director david mercer. welcome to everybody. jim, bad and getting worse? >> i think it is getting worse. you have got consumer incomes that have flat lined over the last several months. consumer spending flat lined and then we look at manufacturing reports out of dallas, out of chicago and the esm number on friday all suggests that the economy that was firing on maybe five cylinders is now only firing on two or three cylinders. beyond that we have political uncertainty and the fiscal cliff that leaves a lot of employers worried about what is ahead and when you are wore relationshipped about what is ahead that means no jobs. >> david, we are seeing private sector is hiring and government is bullin pulling back. that is a good trend, isn't it? >> a very good trend. and i'm glad you pointed out and having 25 months of private sector job growth and creation why is why we should not let one month while dis

hi, everyone, i'm brenda buttner, this is bulls and bears, let's get right to it. here they are, the bulls and bears this week. we've got gary b smith, tobin smith, jonas max ferris and julian epstein. toby, an intact health care law, severe impact on jobs? >> here is why. think about 50 the speed limit for the economy, if you have let's say 55 or 60 employees now because of the new law, we'll take that to 49 the. if you're under 50, guess what, you're going to stay under. >> the worse things are the franchisees, hanging on by a threat trying to recover and you don't see, unfortunately, mass, mass layoffs and businesses closing because they just can't make a profit on this, what does that mean? that means a lot less jobs, not a little less, a lot less jobs. >> jonas, do you think it's that unhealthy, there's a credit with small businesses that help the margins in this case. >> and a tax deduction, the concept of employees having to pay for insurance in the first place is what hurts. it's hurting jobs for decades. and no one has the proposals to get off the system a

brenda buttner break its down, next. tough questions for attorney general eric holier in a hearing on fast & furious, with the chair telling holier, quote, he's not a good witness. we will talk to one of the congressmen who questioned the attorney general, coming up. >> it doesn't matter if you appear in congress 7 times or 70 times if when you are asked, you say i don't know to the questions that are most pertinent. [ kate ] most women may not be properly absorbing the calcium they take because they don't take it with food. switch to citracal maximum plus d. it's the only calcium supplement that can be taken with or without food. that's why my doctor recommends citracal maximum. it's all about absorption. that's why my doctor recommends citracal maximum. between taking insulin and testing my blood sugar... is this part of your life? freestyle lite test strips? why, are they any... beep! wow, that hardly needs any blood! yeah... and the unique zipwik tab targets the blood and pulls it in. so easy. freestyle lite needs ju

here is senior business correspondent and anchor of bulls and bears, brenda buttner. >> new buildingseeds, construction around the clock, real estate becomes the craze of the country all of this fueled by banks that bundle up the debt and buy it and sell it in the same kind of frenzy, then the boom busts and the banks yell bailout! sound familiar? of course, but the mess we're talking about is over there, not here. but now, the euro zone's fourth largest economy has asked for help. big bucks, too, the exact terms still to be decided. and spain's prime minister clear, what this means. >> and this is really good for the euro, this is really good for the euro, and obviouslying, really good for spain. >> good for you and your money, too? the markets have been up and down on every move in europe. the broad market, that's the s&p 500, which is key to many 401(k)'s, had fallen more than 6% in may on fears of that. last week, even the rumor of a spanish bank bailout that might shield the country from a greek exit from the europe took the shock out of stocks and the s & p wrapped up its best w

i'm lori roth in for brenda buttner for bulls and bears.. >> absolutely, tell you, laurie, this vote is not going the way that we, wall street, main street, anybody around the globe wants to hear, this is going to be a horrific moment not just for the united states economy, but everybody in main street, right here, usa has to be vitally concerned with what takes place with greece

hi, everyone, i'm brenda buttner, this is bulls and bears, let's get right to it.s max ferris and julian epstein. toby, an intact health care law, severe impact on jobs? >> here is why. think about 50 the speed limit for the economy, if you have let's say 55 or 60 employees now because of the new law, we'll take that to 49 the. if you're under 50, guess what, you're going to stay under. >> the worse things are the franchisees, hanging on by a threat trying to recover and you don't see, unfortunately, mass, mass layoffs and businesses closing because they just can't make a profit on this, what does that mean? that means a lot less jobs,

hi, i'm brenda buttner. this is "bulls and bears." the bulls and bears this week gary b.uty finance director david mercer. welcome to everybody. jiad

hi, everyone, i'm lori rothman in for brenda buttner and this is bulls and bears.u concerned? >> yes concerned. i think the markets already priced in this downgrade, in my opinion, hence the reason the market was up a bit today. i've been saying since january that the market is going to have trouble and continued volatility going into the november election and i stick with that point. i believe that the banks have severe problems lending to small businesses is only going to continue to be a problem an