'Reagan-esque:' Obama Wins Over Skeptics with Optimism, Leadership on Banks

"But while our economy may be weakened and our confidence shaken, though we are living through difficult and uncertain times, tonight I want every American to know this: We will rebuild, we will recover, and the United States of America will emerge stronger than before," Obama said to a (bipartisan) ovation.

Joe Brusuelas, director of market economics for Moody's Economy.com, gives Obama high marks for such "Reagan-esque" moments. More surprisingly for an economist who publicly supported John McCain, Brusuelas also applauded Obama for showing "leadership" on the vexing issue of how to resolve the banking crisis.

While acknowledging Americans' anger toward Wall Street and the banks, Obama did not pander to the populist rhetoric, Brusuelas notes. Instead, the President - echoing Ben Bernanke earlier in the day - spoke directly about the need to resolve the financial crisis if we're to have any hope of sustaining a recovery.

"When there is no lending families can't afford to buy homes or cars, so businesses are forced to make layoffs. Our economy suffers even more and credit dries up even further," Obama said. "That is why this administration is moving swiftly and aggressively to break this destructive cycle, to restore."

In the accompanying video and forthcoming segments, Brusuelas addresses related questions:

• Are Obama and Bernanke pursuing the right course in dealing with the banking crisis?
• How likely will the economy bottom this year, as Bernanke suggested is possible?
• Will the stimulus package work?
• Should big banks be put into FDIC receivership, i.e. nationalized?