Gloves Off

Season 4, Episode 9 -  Air Date: 9/11/2012
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From USA: "Peter sends Neal undercover as a Wall Street stock trader. Neal discovers a White Collar boxing ring where traders fight for insider information. In order to take down the corrupt CEO, Peter and Neal must step out of the office and step in to the ring."

‘White Collar‘: The Gloves Are Off, So Is the Friendship

"I understand he‘s your asset." - Sam"Yeah. That‘s part of the arrangement." - PeterSomething occurred to me while watching tonight‘s episode of White Collar: Peter is Neal‘s friend, but Neal is not necessarily Peter‘s friend. Opinions may vary, but it was hard not to almost universally support Peter‘s action in tonight‘s episode -- even all season long.At the beginning of the episode, Peter and Neal make a pact to not share Ellen‘s video with anyone--not even Sam. Neal comes awfully close to breaking that deal relatively quickly and invites Sam over the next day to chat. He does not ultimately show the video to him, but a large part of the reason why he doesn‘t is likely because Elizabeth showed up with gelato.
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