Monday, February 28, 2011

Mubarak not the next billionaire?

When Mubarak left office people speculated that he had acquired billions of dollars during his time in power. Many said he could be the richest man in the world. But yesterday Mubarak's family was denied permission to leave the country with out special permission. Many family members and friends accumulated fortunes through corrupt means when Mubarak turned a blind eye. The military regime currently in power is trying to eradicate all of the corruption that happened during Mubarak's time in power. Egypt is in the process of reaching out to foreign countries in trying to freeze all of Mubarak's many accounts. So far Switzerland is the first to try and identify all of his accounts and freeze them.
So how much of an effect could this possible have on Egypt's economy where so many live below the poverty line of $2 a day.

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