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Anti-government protesters demonstrate near a damaged picture of Gamal Mubarak, son of Egypt's President Hosni Mubarak in Alexandria.Reuters/Reuters

In a telling sign of the times, a leading member of the Mubarak establishment has acknowledged that the regime is guilty of making serious economic and political mistakes and the protesters are right to call them out on it.

Taher Helmy, the senior partner in a Cairo law firm affiliated with Baker & McKenzie International, was pivotal in creating the economic reform group that ushered in a wave of liberalization in Egypt in the past 20 years.

He also is close to Gamal Mubarak, the son of President Hosni Mubarak, and was a strong advocate of the younger Mr. Mubarak running to succeed his father as president.

"What we achieved in our reforms was tremendous," Mr. Helmy said, referring to the massive privatization program and the slashing of bureaucracy that freed Egyptian business to stimulate significant economic growth in the country.

"But, frankly, the reforms stopped two or three years ago and we're missing some vital components. There needs to be checks and balances in the market economy," he said, "and there needs to be a more equitable distribution of wealth."

"That's the real problem and these young protesters are right to complain."

The reforms, pushed through parliament by a committee of the ruling National Democratic Party chaired by Gamal Mubarak, are credited with spawning a whole class of the newly rich, the people who are building and living in the lavish gated communities on the outskirts of the capital.

The reforms also are blamed for not having much of a trickle-down effect to benefit lower-income Egyptians.

The widespread criticism of the regime for failing to bring about real political improvements also is well-founded, Mr. Helmy said.

"We have a long way to go in this country," before there is real democracy, he said.

Mr. Helmy had nothing but praise for the protesters. "These young people have extraordinary vigour and aspirations," he said.

"They have no 'red line,' they speak their mind."

"However," he added, "had it not been for our reforms, these young people would not have had the educational and economic opportunities they enjoyed."

"Just take the Internet," he said. "We made sure that the country was thoroughly connected to high speed - there are 22-million users - and these people are connected to the world as a result."

"It's ironic," Mr. Helmy said, "the success of our reforms contributed to this current uprising."

As for the fortunes of the younger Mr. Mubarak, Mr. Helmy acknowledges that the current protests and popular uprising have had a devastating effect on Gamal Mubarak's political future.

"Absolutely," he said. "There's no question about it."

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