Truman relishes the complexity and the excitement of his relationship with the Paleys. He fantasizes about the kinds of stories he’ll be able to tell, but his loyalty to Babe gives him pause. His feelings about Bill are more complicated. Truman likes him, but his lack of patience and dismissive attitude toward Babe get on Truman’s nerves. Even so, Truman admires his wealth and influence—not to mention his taste. Truman thinks back to his recent meeting with Bill at the Links Club. Bill had invited him to ask a favor: He wants Truman to facilitate a meeting—and more—with his friend Carol Marcus. Truman hesitates, suggesting that he and Bill have more in common than meets the eye: They are excluded from certain kinds of clubs because of their identities; they enjoy sex, albeit with differently gendered partners; and they both love Babe. The gambit works on Bill, and Truman is thrilled to realize he considers him an equal. Bill suggests a fourth area of commonality: They are each “collectors”—of women. Truman agrees, but adds that the difference is that, unlike Bill, he doesn’t treat his women “like shit.”

Bill departs abruptly, leaving Truman to weigh the question of Carol. He knows that everyone in this circle cheats on everyone else; Truman and Jack cheat on each other, too.