McNulty continues to try and pretend a Serial Killer is targeting Baltimore's homeless, even going so far as to tie a red ribbon around the wrist of the victim, as he saw similar cases in old files. However, the best he's able to do is a small mention in the paper (Alma writes the article), and Jay allowing him to have a couple of days to run with the investigation. It's Lester who tells McNulty he needs to think bigger, and make the supposed killer even more of a fetishist, if he wants to get more publicity.
Speaking of publicity, at The Sun, Whiting announces a fresh wave of buyouts (as ordered by the bosses in Chicago) - as well as the closing of more foreign bureaus - and Twigg, among others, is included, to Gus' sorrow. Before Twigg goes, however, he helps out with one more story brewing at City Hall. It seems Carcetti knows the real crime stats, thanks to Valchek, but Carcetti knows he can't blame the stats on Burrell because of the budget cuts, and if Burrell tells the truth about the stats, Carcetti is willing to stand by him. However, Burrell lies about the stats, so Carcetti leaks that Burrell is going to get ousted, and Twigg helps put the story together.
Marlo is busy with a lot of things. he goes to Proposition Joe for advice on what to do with all the money he has that he can't spend (Proposition Joe gives it to a preacher who's "building" a hospital, and also puts it in a bank in the Caymans), as well as how to launder it, he takes money to the diner Spiros does business at, to try and get a meeting with the Greek, and he has Chris and Snoop torture Butchie to death to try and find out where Omar is (Cheese betrays Butchie to Chris). Chris and Snoop don't find out the answer, but Omar finds out about Butchie's death, and is both grief-stricken and vengeful.
Elsewhere, the grand jury on Clay continues, and Dukie and Michael, along with Bug, go to Six Flags for the day.
This episode contains examples of:
- The Bus Came Back: This is the first appearance of Detective Barlow since the pilot.
- Call-Back: On one of the cases McNulty finds of a corpse with a red ribbon tied to his wrist, Ray Cole was the primary.
- When Dukie is able to tell Michael how fast the roller coaster they were on was going, Michael marvels that Dukie always seems to know stuff like that.
- In front of the grand jury, Rhonda asks Day-Day about when he was arrested and holding $20,000 in cash.
- Catchphrase: After Cheese gives Butchie up to Chris, he asks, "Now, where my cheese at?"
- Continuity Nod: McNulty has to ask his colleagues if they have a car that's working.
- The story of Alma's that she's disappointed to see buried in the paper is the shooting Kima is investigating.
- Norman had already revealed he used to work at The Sun.
- Defiant to the End: Butchie.
- Do Wrong, Right: When McNulty tells Lester about the "Serial Killer", Lester thinks McNulty's lost his mind, which pleases Bunk; however, it turns out Lester isn't questioning McNulty's idea, but merely the execution of that idea, which pisses Bunk off.
- Epigraph: "They're dead where it doesn't count", said by Fletcher as a way of explaining why Alma's story was buried in the paper.
- Flipping the Bird: Twigg does this to Gus on his last day when Gus asks if he wants to tackle a story (though he ends up doing it anyway).
- Friend to All Children: Omar has become one during his 10-Minute Retirement.
- Layman's Terms:Gus: Look at Whiting's pants. If we won a Pulitzer, the executive editor would be tumescent.Twigg: Toom-what? Speak English, I'm just a police reporter.Gus: Tumescent. Engorged.
- Let Me Get This Straight...:Lester: So you string together Barlow's murder and Cole's unconnected case and yours, which is natural to begin with.McNulty: Instant serial killer, which I thought would get the brass to begin kicking out some money to work real cases.Lester: Like Marlo.McNulty: Like Marlo.Lester: Shit like this actually goes through your fucking brain?
- Literal Metaphor: Vondas rejects Marlo's money at first because it's dirty, meaning it hasn't been laundered and can be traced back to the street. Marlo thinks Vondas means literally dirty due to the condition of the bills.
- Making Love in All the Wrong Places: A patrol car catches McNulty having sex with a woman on the hood of his car, though when he flashes his badge, they drive off.
- Meaningful Echo: Just as Carver yelled at the corner boys in the western, "You do not get to win!", McNulty says about Marlo, "He does not get to win. We get to win!"
- Noodle Incident: Daniels and Marla once again obliquely discuss Daniels' supposedly shady past.
- O.O.C. Is Serious Business: Bunk is so disgusted by what McNulty's doing, he won't even go drinking with him.
- Phrase Catcher: Whiting tells the assembled newsroom, "We are, quite simply, going to have to find ways to do more with less." Gus also says "more with less, huh?" when he meets Whiting and Klebanow.
- Screw This, I'm Outta Here: McNulty and Freamon decide to connect a string of unrelated deaths to convince the police department a serial killer is at large in Baltimore. Horrified at their plan, Bunk leaves the room, saying "I'm out. I'm outta here!"
- Shout-Out: When having one last drink with Twigg, Twigg quotes an epigraph H. L. Mencken had suggested for himself ("If, after I depart this vale, you ever remember me and have thought to please my ghost, forgive some sinner and wink your eye at some homely girl", though he misquotes it as "ever I depart this vale"), to which Gus replies, "Fuck Henry Mencken."
- Sophisticated as Hell:Proposition Joe: (about Marlo) It ain't easy, civilizin' this motherfucker.
- South of the Border: Discussed; McNulty claims most of the other detectives are so dumb, "they couldn't catch the clap in a Mexican whorehouse."
- Stepford Smiler: Carcetti when Valchek brings by the stats. Valchek clearly wants the commissioner's job, and as much as Carcetti needs Valchek, he's not doing that for him.
- Swiss Bank Account: Marlo doesn't entirely understand how the Cayman's bank works for him at first.
- Toilet Humour: Yes, even this show. Barlow farts, and when Bunk calls him on it, grouses, "Like Chanel No.5 comes outta your ass".
- Trademark Favorite Food: Omar doesn't like the fact they can't find Honey Nut Cheerios where he and Renaldo are living now.
- Villains Out Shopping: Michael taking Bug and Dukie to Six Flags for the day.
