NEW YORK (AP) — The number has been repeated so often by presidential prognosticators that it’s an article of faith: No president has been re-elected since World War II with an unemployment rate higher than 7.2 percent. But the stock market turns out to be a pretty good predictor, too. The Dow Jones industrial average has soared 62 percent since President Barack Obama took the oath of office during some of the darkest days of the Great Recession.
Dominic Rushe in New York Republican presidential candidate for 2012, Mitt Romney has been a persistent critic of Dodd-Frank bill to regulate financial institutions. Photograph Joe Raedle/Getty Images It’s almost a year since Barack Obama signed the “strongest consumer financial protections in history.” Thanks to the Dodd-Frank bill, drawn up in the aftermath of the worst financial crisis in living memory, America “would never again be asked to foot the bill for Wall Street’s mistakes,” the US president declared, back in July 2010. A year later Dodd-Frank is looking less historic.