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Those contingency plans are now being dusted down amid speculation over a Greek exit.
But the disaster did expose some of the limits of those contingency plans.
"We are going to start to execute those contingency plans", he told CNBC.
Putting in place all of those contingency plans must have cost the city a bundle, not to mention the costs to businesses and individuals for their own preparations.
Although the mayor did not get all of the outside help he was seeking, and the city's economy continued to worsen, further driving down tax collections, those contingency cuts were never fully made.
It is basically a threat in slow motion, because while the mayor has shunned the L word, several aides have said that those contingency cuts would likely include layoffs.
Similar(49)
Those contingency-planning for a break-up are less sanguine.
Planning for all those contingencies is complex and has only recently begun, the officials said.
Feith said that one of those contingencies was the outbreak of looting.
It captures the contingencies of real options and addresses nearly all of the most commonly voiced criticisms of using option theory to manage those contingencies.
Either President Al Gore or President George W. Bush may well have to face those contingencies, and the options they will have to choose from will not be easy.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com