Clearly not everything was ok when I visited back in September but the failure of a government owned company, Dubai World, to meet a debt repayment will naturally lead to concerns about whether the remaining $59bn debt will be repaid. To put this in perspective it is the equivalent of the NHS in the UK not meeting a $3.5bn payment.

There is little definitive evidence yet of how much of the outstanding $59bn debt is owed to UK banks, but the big drops in their share prices suggest they are heavily exposed. Now I am not a genius and I am certainly not paid a million pound salary, but I was able to indentify the problems out there in just a few days so the banks really deserve what they have coming to them this time.