The rupiah steadily weakened from the middle of November, standing at 3,700 rupiah per dollar at the end of the month. In December, the crisis turned into a disaster. Much of the Indonesian economy was controlled (indeed, in 2008, much of it still is) by relatives of the President Suharto, and of the 16 banks to be liquidated, 25% of PT Bank Andromeda was owned by Bambang Trihatmodjo, the second son of Suharto, PT Bank Jakarta was part-owned by Probosutedjo, the President's half-brother, and 8% of PT Bank Industri was owned by the President's second daughter, Siti Hediati Prabowo.