No examples were matched

I am using rspec-rails 2.4.1 on a rails3 (3.0.3) app. I have around 20
specs. When I run rake spec all 20 specs run fine.

However when I do bundle exec rspec then I get this message.

No examples were matched. Perhaps {:unless=>#<Proc:0x0000000101824f90@/
Users/nadal/.rvm/gems/ree-1.8.7-2010.02@rails3/gems/rspec-core-2.4.0/
lib/rspec/core/configuration.rb:51>, :if=>#<Proc:0x0000000101825148@/
Users/nadal/.rvm/gems/ree-1.8.7-2010.02@rails3/gems/rspec-core-2.4.0/
lib/rspec/core/configuration.rb:50>} is excluding everything?