Do you really think that Peter is the bad guy? From the previous episodes, my judgement is that he's a pretty good person. Have you also noticed that Elizabeth is probably a character to voice how Peter is REALLY thinking? He's probably PROTECTING Kate from the real villain. And he can't tell Neal beause he knows he'd be too tempted.
Don't you think so?
BTW, it is my new goal to see the White Collar fan club #1 on the leaderboard. Tell everyone you know to watch at least one episode, then they'll want to join too.
p.s. do you know how to change your sign-in name?