Obama Administration Won't Endorse Calls For Immediate Resignation Of President Mubarak
Tuesday, February 8, 2011
This is what the US has been supporting
Mubarak, his wife, Suzanne, and two sons were able to accumulate wealth through a number of business partnershi
Most Gulf states required foreigners give a local business partner a 51 percent stake in start-up ventures. In Egypt, the figure is commonly nearer 20 percent, but still gives politician
Almost every project needs a sponsor and Mubarak was well-place
Much of his money is in Swiss bank accounts and London property. These are the favourites of Middle Eastern leaders and there is no reason to think Mubarak is any different. Gamal's Wilton Place home is likely to be the tip of the iceberg.
Al Khabar named a series of major western companies that, partnered with the Mubarak family, generated an estimated $15m a year in profits.
Aladdin Elaasar, author of The Last Pharaoh: Mubarak and the Uncertain Future of Egypt in the Obama Age, said the Mubaraks own several residences in Egypt, some inherited from previous presidents and the monarchy, and others the president has commission
Hotels and land around the Sharm el-Sheikh tourist resort are also a source of Mubarak family wealth.
This is in the time where 40-60% of Egyptians live under poverty levels of $2 a day.
It is not enough to oust Mubarak, his party and the regime. Their finances must be investigat
Read the Article at HuffingtonPost
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