KeatsConnelly Cross-Border Weekly Best of the Web 2013-2-1

web-search-greyEvery week we share news stories, blog articles and other interesting stuff from around the web that received the most views, shares, comments and overall interest on various KeatsConnelly social media outlets.

This week’s list includes insight into the new immigration framework put forward by a group of U.S. Senators, an interesting take on the U.S. economy, some concerning news for individuals considering purchasing long-term care insurance and a warning note about the strength of Canadian banks.

Senators reach deal on immigration changes (www.nbcnews.com ) – A bipartisan group of leading senators has reached agreement on the principles of sweeping legislation to rewrite the nation’s immigration laws. The deal, which was to be announced at a news conference Monday afternoon, covers border security, guest workers and employer verification, as well as a path to citizenship for the 11 million illegal immigrants already in this country…

Despite Problems, U.S. Still Strong (www.advisor.ca) – Much is going awry in the United States, but there’s a wide range of investment opportunities, says Phil Taller, vice president of investments at Mackenzie Investments. The United States government is mired in debt, but as bad as it is, its debt as a percentage of GDP is less worrisome than that of almost a dozen other countries in the developed world, including Japan, Belgium, and Canada…

Long-term care insurance about to set fees by gender (www.suntimes.com) – Gender discrimination is coming — and it’s perfectly legal. The Long Term Care insurance industry has finally recognized the obvious: Women live longer than men. And because women live longer, they use more benefits from their long-term care insurance policies. In fact, the most recent figures show that two-thirds of all long-term care claims were paid to females, and 70 percent of the dollars paid out by insurers were paid to women. That’s a significant number, when you realize the industry paid out more than $6 billion in claims in 2011…

Moody’s downgrades Canadian banks over consumer debt exposure (www.financialpost.com) – One of the world’s leading debt rating agencies on Monday downgraded five of Canada’s big banks because of exposure to over-leveraged consumers, but stock markets seemed not to notice as bank shares continued on a winning streak that’s been going on more than six months. The action “reflects our ongoing concerns that the Canadian banks’ exposure to the increasingly indebted Canadian consumer and elevated housing prices leaves them more vulnerable to unpredictable downside risks facing the Canadian economy than in the past,” said David Beattie, a senior credit analyst at Moody’s and lead author of the report…

Come back next Friday for more interesting news and articles. Enjoy your weekend!

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