This is a rush transcript from "Hannity," January 31, 2011. This copy may not be in its final form and may be updated.

SEAN HANNITY, HOST: As the protest against Hosni Mubarak's regime and Egypt continue to rage, observers of the region are issuing a dire warning that Mubarak's down fall could usher in a much more dangerous regime one led by the Muslim Brotherhood, now Egypt's largest opposition group.

But just what is the brotherhood and what would a brotherhood takeover mean for Egypt? Now they are considered one of the first Islamic fundamentalist groups. The brotherhood was founded in 1928 by Hasan al-Banna. Its goal is forcing Muslim countries to adopt Sharia law.

The group has been banned in Egypt for trying to assassinate its leaders and overthrow its secular government even more frightening some of the world's most deadly terrorists originated in Egypt's Muslim Brotherhood.They include Ayman al-Zawahiri, who went on to become Usama bin Laden's top deputy.

Joining me now with more analysis of what a Muslim Brotherhood takeover would mean for Egypt, the author of the best seller "The Grand Jihad," former federal prosecutor Andy McCarthy is here. And the author of "God's War on Terror," former PLO terrorist, former member of the Muslim Brotherhood, Walid Shoebat is with us.

Guys, welcome to the program.

All right, look, it's very clear from 1928 when they were created. Their goal is to establish an Islamic caliphate governed by Sharia law and their commitment is to Jihad. It hasn't changed.

ANDY MCCARTHY, FORMER FEDERAL PROSECUTOR: No, it hasn't changed. In fact, we have a prime example of what it looks like. Hamas, which runs Gaza in the Palestinian territories, is the Palestinian wing of the Muslim Brotherhood.

So this isn't, you know, great speculation of what is a Muslim Brotherhood operation look like? What does a Muslim Brotherhood government look like? All we need to do is look at Gaza and we can see one.

HANNITY: You wrote, you know, "Fear the Muslim Brotherhood," which is a piece that you wrote on National Review online. You said to this day their motto is "Allah is our objective, the prophet is our leader, the Koran is our law, Jihad is our way and dying in the way of Allah is our highest hope."

MCCARTHY: It hasn't changed that has been their motto from the beginning. It's their credo to this day and you know, it's worth remembering that I don't have -- but Mubarak is in power because the Muslim Brotherhood killed his predecessor.

HANNITY: Yes, Anwar Sadat.


HANNITY: Let me go -- tell us about your days with the Muslim Brotherhood?

WALID SHOEBAT, FORMER TERRORIST: Well, I was in Chicago. My mentor, Jamal Sahid was the apparatus of the Muslim Brotherhood. He was a colleague of Abdul Lazam (ph), the godfather of Al Qaeda running operations in Chicago and all over the United States of America.

In fact, it was the IAP, Islamic Association of Palestine, which was given birth by the Muslim Brotherhood, which really was behind Hamas, part of the U.S., so it's apparatus in the U.S. was recruitment in the U.S.

In fact, all the major Islamic organization in America, whether you look the AMC, whether you look at the Council of American Islamic Relations, whether you look at the Islamic Society of North America, all of them have vowed allegiance to their Muslim Brotherhood.

There is no transfer of power that happened in Egypt, without the use of the Muslim Brotherhood. Jamal got the power through the Muslim Brotherhood. Even Anwar Sadat used the Muslim Brotherhood in the war against Israel in the Yom Kippur War.

Hosni Mubarak finally was -- ousted them out also before they were ousted to join with the Muslim Brotherhood in Saudi Arabia. So the history is extensive in the Middle East as well as in the United States of America. Let's not forget 73.2 percent voted for Hamas during the election because of the Muslim Brotherhood support of Hamas.

HANNITY: Now that's my point. That's a good point and I'll throw this to you, Andy, is that I've always felt that the number of people that support radical Islam is higher than the world is willing to admit as he points out in Hamas in the elections, et cetera, you know, a known terrorist group.

We know what the Muslim Brotherhood's motto still is. So the question I've been trying to get an answer to all night is I don't think they are in this for altruistic reasons. They're in there to fulfill what they believe is their destiny and what has been their motto from the beginning.

MCCARTHY: That's why they are in every place and every place that they are and what you say about attitudes in that part of the world is true. There was polling that was done by the University of Maryland a few years back, 75 percent of Egyptians said they would like to live under a strict interpretation of Sharia, and 67 percent, 2/3 said they would like to live under a unified caliphate.

HANNITY: So this is the likelihood if Mubarak goes is the Muslim Brotherhood if it is Elbaradei and the brotherhood in a coalition it is Sharia law?

MCCARTHY: The one silver lining we have I think is that the military in Egypt remains the most revered institution in the country. But that, you know, look, we are looking at chaos. When you have chaos the most organized, most disciplined organization usually exploits it, and that's the Muslim Brotherhood.

HANNITY: Walid, your prediction? How does this all end up?

SHOEBAT: My prediction is only two parties in Egypt. There is the leftist and there is what is considered the right, which is not right whatsoever as we understand it from the west.

The right as they understand it is really the Muslim Brotherhood and of course, the Muslim Brotherhood was needed in order to have this revolution.

If you look at the gist of the demonstrations in Egypt, when did it really began? It began after the Friday prayers. They could never have done it without the Muslim Brotherhood. As they've used them in the past, they use them now. The Muslim Brotherhood is spearheading this revolution in Egypt.

HANNITY: Walid, we have to run. But we appreciate your time. Thanks for being there and Andy, always good to see you.

MCCARTHY: Thanks, Sean.

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