revenues also above estimates at almost $9 billion on a strong showing by newscorp's tv and satellite units. >> susie: a lot of comparisons of this economic crisis and the financial crisis of 2008, but tonight's commentator explains why this time it really is different for the u.s. economy. he's daniel gross, columnist and economics editor at yahoo finance. >> this time is different. those are the four most dangerous words in finance. but as debt downgrades and market turmoil causes people to compare this week to the calamitous fall of 2008, it's worth reflecting on a few key differences between now and then. first, 2008 was a private-sector debt debacle. today, the troubles derive almost entirely from the public sector-- from government. bad, right? but governments in dire financial straits can raise taxes, print money, and they have plenty of people to stiff before they stiff their creditors. in the fall of 2008, lehman brothers-- and all the highly leveraged lenders-- didn't. second, the macroeconomic situation. in the fall of 2008, the u.s. economy had already been in recessiofor

the editor, the former news of the world of course owned by the parent company of this network, newscorp. jim, let me start with you, they had the parliamentary hearings and more alleged evidence with now coming out. >> they had the parliamentary hearings and riots, transforming britain and pumping life back in the story, a big break with the arrest of a fellow james dezboro and los angeles and american reporter busted on this, we don't know whether he was arrest for and came in 2009 and working on stories like jacko-- >> that's a good story (laughter) >> it does make you wonder how journalism is practiced out there. one thing we learned from london, it's more than, it was this whole class of reporters doing it. and the same thing might be true in los angeles and in united states, whatever he's accused of doing back in london. >> judy, the new york times is front page constantly and the guardian-- >> i guess the wall street journal story this week was kind of missed, but concluded that the fbi is saying that there is no hard evidence, that these practices have spread to the united states

you're newscorp's person who's known in china. >> people know me in china because of the work i do therebut after this movie i got so much support and a lot of people came to me and wanted to make more movies with me. >> rose: are you looking at next projects? >> actually, in fact, the next project is with a different studio that we'll announce soon. >> rose: can you tell me now >> later. (laughs) >> rose: congratulations. >> thank you. >> thank you. >> rose: and to you. >> thank you. >> rose: wayne, pleasure to have you here. captioning sponsored by rose communications captioned by media access group at wgbh access.wgbh.org

scandal involving former tabloid news of the world, the now out of business newspaper was owned by newscorpfox news, and senior foreign affairs correspondent amy kellogg joins us with the latest on this story from london. hello amy. >> reporter: by martha. one of the central issues in this whole phone hacking story has been whether or not the practice was confined to a single rogue reporter at news of the world, which as you mentioned is the sunday tabloid that was closed during the height of this scandal or whether it was endemic. now, a letter that was released today by the former royal editor of news of the world, and he was also jailed for hacking, by the way, martha, claims that the practice was so widespread that it was discussed regularly at editorial meetings. now, the committee for culture sport and media, which is the one that questioned both rupert and james murdoch at length last month has met again and said they still need to gather more information, specifically to reconcile conflicting information, what james murdoch has said versus what former senior employees have said abou