He's sticking to his earlier promise not to run in September's election, but he'll still stay in power until then, while delegating a few more token responsibilities to Vice President Omar Suleiman. And he again vowed to "punish" the outlaws who "did this" to Egypt—meaning he'll keep attacking his own citizens with hired goons.
This is a bad turn of events! Millions of protesters returned to Cairo's Tahrir Square expecting to hear Hosni Mubarak's last speech as president, but instead they got a reaffirmation of power and bitchy threats of retribution. This should make for a full night of ugly, ugly riots.
NBC News' Richard Engel reports that at least some of the protesters plan to march to Mubarak's presidential palace, with a possible stop at Egyptian state TV headquarters along the way. Other protesters are just kicking and tearing anything that's nearby, until they get a better plan.
[Image via AP]