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Jamie and I sat pensively over our decanter of partners' port.

"Jolly good, then," he said profoundly. "Yes. Well, then. Cheers. Here's to us."

In a moment, if I did nothing to stop him, he was going to launch himself upon the great issues of our time: the cockiness of women, the mystery of where North Sea oil profits had gone—he gravely feared to the unemployed—or how decent banking had been ruined by the computer. And in thirty minutes exactly, Pandora would pop her stupid pedigree face round the door and remind Mr. Jamie that he had another meeting before close of play: which was Pringle Brothers code for "The chauffeur is waiting to drive you to the airport for your golf at St. Andrew's" or "You promised to take me to Deauville for the weekend."

I asked after Henrietta, Jainie's wife. I always did, and dared not vary the ritual.

"Henrietta is bloody marvellous, thank you," Jamie replied defensively. "Hunt's imploring her to stay on, but old Hen isn't sure she wants to. Getting a bit tired, frankly, of the Antis buggering everything up."

I asked after his children.

"Kids are doing splendidly, Tim, thank you. Marcus is captain o' Fives, Penny's coming out next spring. Not real coming out, not the way the girls did it in our day. But a lot better than nothing," he added, and gazed wistfully past me at the illustrious names of Pringle's Fallen of Two Wars.

I asked whether he'd seen any of the mob recently, meaning our crowd at Oxford. Not since the Oriel bash at Boodle's, he replied. I asked who had been there. It took me two more moves before, seemingly off his own bat, he was talking about Larry. And really it was no great work of art on my part, because in our year if you talked old buddies, sooner or later you talked Larry.

"Extraordinary chap," Jamie pronounced with the absolute certainty of his kind. "Gifted, vast talents, charm. Decent Christian background. father in the Church, all that. But no stability. In life, if you haven't got stability, got nothing. Pinko one week, chucking it all in next. Chucked it in for good this time. Corns are all capitalists now. Worse than the bloody Yanks." And then, almost too easily, as if my guardian angel were whispering in his ear: "Came to see me not long ago. Bit seedy, I thought. Bit hangdog. Certain awareness of having backed the wrong side there, I rather think. Natural enough when you look at it."

I let out a delighted laugh. "Jamie! You're not telling me Larry's become a capitalist entrepreneur, are you? I think that's too ripe."

But Jamie, though he could laugh like a maniac without warning—and usually without humour—only helped himself to more port and waxed more sonorous. "Don't know what he's become, to be frank. Not my business. More than a mere entrepreneur, that's for sure. Something bit more eloquent of the moment, if you ask me," he added darkly, ramming the decanter at me as if he never wanted to see it again. "Not a lot of due respect there either, to be frank."

"Oh dear," I said.

"Rather exaggerated idea of himself." A resentful swallow of port. "Bit of overcompensation going on. Lot of crap about our duty to help the newly freed nations find their feet, right old wrongs, establish norms of social justice. Asked me whether I intended to pass by on the other side. 'Steady on, old boy,' I said. 'Hang about. Weren't you one of the chaps who gave the Sovs a bit of a leg up? You've got me a bit foxed, if you don't mind my saying. Bit stumped. Confused.' "

I leaned forward, showing him that I was all attention. I composed my face into an expression of fascinated, sycophantic incredulity. I strove with all my body language to will his damned story out of the fogged thickets of his lonely little mind: "Go on, Jamie. This is riveting. More."

"Only duty I've

got is to this house, I told him. Wouldn't listen. I thought he was an intellectual sort of chap. How can you be an intellectual, not listen? Talked straight through me. Called me an ostrich. I'm not an ostrich. I'm a family man. Pathetic."

"But what on earth did he want you to do, Jamie? Turn over Pringle Brothers to Oxfam?" It flitted through my mind as I said this that it wouldn't be at all a bad idea. But my face, if it was doing its job, revealed only my sincere sympathy that Jamie should have been the target of such bad form.

A half minute's silence while he rounded up his intellectual resources. "Soviet Communist Party was going private. Right?"

"Right."

"That was the story. Selling off Party property. Buildings. Rest homes, offices, transport, sports palaces, schools, hospitals, foreign embassies, land galore, priceless paintings, Faberge, Christ knows what. Billions of dollars of the stuff. Make sense?"

"Indeed it does. Russia Limited. It began in secret with Gorbachev, then it ran riot."

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