Capital

bounce the questions over to his deputy.
    And as for that deputy, and what he was thinking, well . . .

79
     
     
    Mark, looking over Roger’s shoulder while he himself, as usual, did all the work – Mark whose great preoccupation was, and had been ever since childhood, his feeling that he needed the world to acknowledge him as the heroic main character in his own story – Mark was thinking that he, Mark, had been a naughty boy. In fact those very words would sometimes run through his mind, like a nursery jingle or a pop-music ear worm, a tune you’d got stuck in your mind and couldn’t get rid of. I’ve been a naughty boy, I’ve been a naughty boy . . .
    The fright with Jez, when he had nearly been caught at his monitor, had been a real fright. It still wasn’t something Mark liked to think about. Jez might have gone to his boss; might have done anything. And physically, at an animal level, Mark was frightened of Jez. But a strong man with a definite purpose did not over-dwell on such minor setbacks, and all Mark had done was lie low for a month or two and not do any rummaging around other people’s desks or terminals – though, because he was a strong man acting on a plan, he stuck to the plan, and kept on coming in to the office before anyone else. That way there would be no change in his behaviour when he went back to his scheme. This was how you had to think if you wanted to get things done.
    After six weeks, Mark had gone back to work on his plan, and had immediately had a breakthrough. One of his old mates from back-office days now worked in Compliance, the section of the bank which monitored staff’s adherence to the various laws and codes of practice and risk-control models. Dropping in to visit him one day, Mark found him out of the room, having left behind on his desk a Post-it pad covered in numbers. The string of digits was, Mark guessed, the strongly encrypted password to something. Taking a big risk, Mark came round to the terminal and checked the log-in and found that while his colleague had a weekly changing password he also – because those passwords were impossible to remember – kept a file of passwords, to which he now, he found, had the key. It was really as easy as that, if you knew what you were doing. Mark had already found an old account which had once been used to balance trades at the end of the day and which was supposed to be for short-term, twenty-four-hour-only use; but precisely because it hadn’t been used in so long, he was now able to delete it from Compliance’s systems without any discrepancies appearing. So now he could log on to colleagues’ accounts without their knowledge, trade, park the profits (and losses, if there were any, though that was unlikely) in the no-longer-dormant account. The system was supposed to flag anything which seemed statistically anomalous – but he could use his access to Compliance to track any alerts, and sign off on them, before anyone else noticed. He was in business.
    The plan was simple. Trade, not on his own account, obviously – he was no thief, thank you very much! – but on the bank’s, until he had made, say, £50 million. Serious money. An amount which didn’t risk the bank but which was irrefutable evidence of his talents. Then, fess up. Tell them what he had done and let them draw the obvious conclusion: that he was a risk-taker with a proven talent for delivering spectacular returns, and there were fifty million reasons for giving him what he wanted – which, in the short term anyway, was Roger’s job.
    Mark had this very week made his first trades. The City was going through an anxious phase, with rumours of all sorts of nasties emerging from the US derivatives market, but Mark had always believed that it was during bad weather that you found out how good a sailor you were. He had bought some derivatives taking a long – optimistic – position on the Argentine peso, measured against the yen. Within seventy-two hours, there had been a 6 per cent movement in the currency in the right direction. Thanks to the magnifying effect of derivatives and leveraging, Mark had come close to doubling this bet, which meant doubling the bank’s money. He had closed the position and hidden the profit in the no-longer-dormant account. Then he had gone on to make a big bet on the dollar, the highly out-of-fashion dollar, against a basket of other currencies, and that was going so well that he was still running an open position,