Egyptian President Hosni Mubarak said he has delegated many powers to his newly minted vice president Omar Suleiman, but enraged crowds gathered in Tahrir Square hoping to hear the embattled president say he was stepping down.
Hundreds of thousands of people in Tahrir Square didn't wait until Mubarak finished his speech before they began angrily chanting, "Leave, leave, leave."
Mubarak's defiant speech -- in which he reiterates several times that he won't let foreign powers intervene in Egypt's affairs -- is expected to be widely denounced by the thousands of protesters gathered in Cairo and across the country.
Although Mubarak claimed he was transferring authority for the transition to Suleiman, nobody seems to believe it.
Update: NBC is reporting the protesters plan to march to the Presidential palace, but CNN is showing video that they say shows protesters walking towards state television.
Update: On Fox, Mike Huckabee is blaming Obama for Mubarak's decision to stay in power. His rationale? Obama didn't allow Mubarak to "save face."
Update: Omar Suleiman, the Egyption Vice President, is now speaking on Egyptian state television, praising Mubarak's decision.
Keep track of the latest developments in Egypt in the Tahrir mothership diary.
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