Mubarak Resigns, Military is in Charge

11-Feb-2011

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An eternal optimist, Liu-Yue built two social enterprises to help make the world a better place. Liu-Yue co-founded Oxstones Investment Club a searchable content platform and business tools for knowledge sharing and financial education. Oxstones.com also provides investors with direct access to U.S. commercial real estate opportunities and other alternative investments. In addition, Liu-Yue also co-founded Cute Brands a cause-oriented character brand management and brand licensing company that creates social awareness on global issues and societal challenges through character creations. Prior to his entrepreneurial endeavors, Liu-Yue worked as an Executive Associate at M&T Bank in the Structured Real Estate Finance Group where he worked with senior management on multiple bank-wide risk management projects. He also had a dual role as a commercial banker advising UHNWIs and family offices on investments, credit, and banking needs while focused on residential CRE, infrastructure development, and affordable housing projects. Prior to M&T, he held a number of positions in Latin American equities and bonds investment groups at SBC Warburg Dillon Read (Swiss Bank), OFFITBANK (the wealth management division of Wachovia Bank), and in small cap equities at Steinberg Priest Capital Management (family office). Liu-Yue has an MBA specializing in investment management and strategy from Georgetown University and a Bachelor of Science in Finance and Marketing from Stern School of Business at NYU. He also completed graduate studies in international management at the University of Oxford, Trinity College.

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From Stratfor site,

Egyptian Vice President Omar Suleiman delivered the following statement Feb. 11: “In the name of God the merciful, the compassionate, citizens, during these very difficult circumstances Egypt is going through, President Hosni Mubarak has decided to step down from the office of president of the republic and has charged the high council of the armed forces to administer the affairs of the country. May God help everybody.”

Suleiman’s statement is the clearest indication thus far that the military has carried out a coup led by Defense Minister Field Marshal Mohammed Hussein Tantawi. It is not clear whether Suleiman will remain as the civilian head of the army-led government. Egypt is returning to the 1952 model of ruling the state via a council of army officers. The question now is to what extent the military elite will share power with its civilian counterparts.

At a certain point, the opposition’s euphoria will subside and demands for elections will be voiced. The United States, while supportive of the military containing the unrest, also has a strategic need to see Egypt move toward a more pluralistic system.

Whether the military stays true to its commitment to hold elections on schedule in September remains to be seen. If elections are held, however, the military must have a political vehicle in place to counter opposition forces, particularly the Muslim Brotherhood. The fate of the ruling National Democratic Party (NDP) thus lies in question. Without the NDP, the regime will have effectively collapsed and the military could run into greater difficulty in running the country. While the military council will be serving as the provisional government, it will likely want to retain as much of the ruling NDP as possible and incorporate elements of the opposition to manage the transition. Sustaining its hold over power while crafting a democratic government will be the biggest challenge for the military as it tries to avoid regime change while also dealing with a potential constitutional crisis.

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