we have jim le camp and james altucher. 25 reasons to be bullish or bearish. we should come to closure on that. i agree there is a v-shaped recovery. we'll be right back. >>> all right. 25 reasons for a v-shaped bull market economic recovery -- or not? jim le camp and james altucher. james, jim is a smart guy. 25 reasons and i let him get in three. small banks in trouble, small businesses in trouble and bad washington policies. do you have a quick response? >> well, i think he's right on those. but there is good things happening. for instance, he's right. small businesses are nervous about hiring employees, but we're seeing overtime pay going up, work week hours going up. this is precursor to full-time employment and last month employers added the most jobs they have added in four years. that's a healthy sign that businesses are hiring again. meanwhile, existing home sales up 8% last month. retail sales up 10% year over year. this is the highest spike up in years. we're seeing lots of signs between real estate, the job market, the retail market that things are

james altucher, a lot of people say the market rally has been on, quote/unquote, low volume and somehow that's a bad thing. how do you respond? >> i've done a lot of tests using software i wrote to trade the markets based on volume. volume actually has almost no real meaning in terms of the overall market movement. >> so what is your most single number one favorite right now? >> i like, as i mentioned about a month ago, r.s., reliant steel. i think it's a great way to play the materials book that is currently happening. >> gentlemen, you're terrific. a pleasure. >>> coming up, cowboy monetarism. is ben bernanke ready to be the strong, silent shoot from the hip john wayne kind of fed-head? i want to see the fed pull the trigger. i want to see wall street worried about the fed. >>> here comes a real bad story, some breaks news. fake documents, poor lending practices and poor oversight, all part and parcel what fueled washington mutual's expansion into subprime lending and ultimately its demise. mary thompson joins us with the details. a nasty story. >> it really is, all after a year and a