One disappointment in Mr. Obama’s speech was his failure to deliver any more clarity on his plan to rescue the nation’s banking system. He said he would not provide bailouts “with no strings attached.” But he offered even less specificity than the administration has in recent weeks. The choices are indisputably difficult, and Mr. Obama may be trying to keep his options open. His team has seemed skittish about the increasingly obvious need for some form of government takeover of some of the biggest banks. If Mr. Obama has a better plan, the nation needs to hear it soon.

This lack of specificity was apparent in almost all the issue areas of President Obama's speech. In a comment last night, Donald from Hawaii wrote:

The president had to offer hope. And in that regard, I think he Barack Obama [hit] the right notes, touching on general ideas and goals, and giving us a sense of purpose, mission and direction without getting mired in the weeds.

Speaking as a policy wonk myself, there's time to flesh out and debate the specifics afterward. Had Obama discussed them in detail now, I think it would have been lost on most people.

Now, let me qualify my remarks in your favor.

If the president continues to give rote variations of this speech over the next few weeks, then I think your grade of B- will be more than justified, both retrospectively and in spades. In that regard, I certainly couldn't begrudge your wanting to perhaps lower tonight's evaluation to a C or C-, or even a D+, particularly if subsequent results in Congress render tonight's speech as nothing but a lot of beer foam. Only time will tell.

This is an intelligent perspective but I can not agree. It is true that many parts of President Obama's speech were evocative of one of my favorite speeches, FDR's 1932 Oglethorpe speech. Particularly these passages from FDR's speech:

It is toward that objective that we must move if we are to profit by our recent experiences. Probably few will disagree that the goal is desirable. Yet many, of faint heart, fearful of change, sitting tightly on the roof-tops in the flood, will sternly resist striking out for it, lest they fail to attain it. Even among those who are ready to attempt the journey there will be violent differences of opinion as to how it should be made. So complex, so widely distributed over our whole society are the problems which confront us that men and women of common aim do not agree upon the method of attacking them. Such disagreement leads to doing nothing, to drifting. Agreement may come too late.

Let us not confuse objectives with methods. Too many so-called leaders of the Nation fail to see the forest because of the trees. Too many of them fail to recognize the vital necessity of planning for definite objectives. True leadership calls for the setting forth of the objectives and the rallying of public opinion in support of these objectives.

Do not confuse objectives with methods. When the Nation becomes substantially united in favor of planning the broad objectives of civilization, then true leadership must unite thought behind definite methods.

The country needs and, unless I mistake its temper, the country demands bold, persistent experimentation. It is common sense to take a method and try it: If it fails, admit it frankly and try another. But above all, try something. The millions who are in want will not stand by silently forever while the things to satisfy their needs are within easy reach.

We need enthusiasm, imagination and the ability to face facts, even unpleasant ones, bravely. We need to correct, by drastic means if necessary, the faults in our economic system from which we now suffer. We need the courage of the young. Yours is not the task of making your way in the world, but the task of remaking the world which you will find before you. May every one of us be granted the courage, the faith and the vision to give the best that is in us to that remaking!

But timing is everything in life. FDR gave this historic speech in 1932, when he was an unannounced candidate for President. The 100 Days were not marked by great speeches, but by great actions, legislation and policy initiatives.

The time for talking is over. The time for action is at hand. Today, it is not clear what action President Obama plans to take. And for that reason, I can not consider last night's speech a resounding success.

Speaking for me only