Morsi may be prosecuted for "insulting the presidency".

There is no insult to the presidency like the president's own actions. If insulting the presidency were a crime in the US, we would prosecute Dubya and Obama.

However, I have a hunch that the Egyptian military does not see the irony of this, and must have dredged up some words Morsi spoke as an excuse to prosecute him.

Freedom of speech includes the right to insult any one, any thing, any view, and any institution. Including, of course, the presidency of any country.