Some analysts now say Indonesia could ride out the economic crisis, which has brought a wave of joblessness, inflation, bankruptcies and bank closings.
The bank closings, they say, are a good first step, and an object lesson.
What about all these bank closings?
Leaders of the federation of trade unions representing bank workers promised to strike if the bank closings were carried through.
He recounted the tale of a panic meeting of the film producers' association after a rash of bank closings in 1924.
Given all the bank closings and mergers in the city through the years, this inertia means that New York is peppered with vaults.
Marsha Bain, 65, a retired public relations executive, sees the bank closings as a betrayal.
But analysts do not expect a crisis of the magnitude that led to many bank closings in the energy states.
It also said it never considered the option of an orderly bank closing.
It has heightened the effects of the regional economic crisis in Indonesia, where bank closings, rising prices and unemployment are raising fears of social unrest.
