The episode begins with a group of men arriving outside Gotham Bank. One of them is wearing a red hood. They enter the bank and begin committing the robbery under two minutes while the one man in the red hood seems to be somewhat understanding to the people. They flee outside and they throw the money in the air which allows them to escape the pursuit of the police.
Jim is watching footage of the robbery at the bank. One of the bank associates says the man in the red hood seemed nice and understanding. She also mentioned that something set the alarm off a week before and the gang seemed very prepared. Jim wants to investigate the old footage. Jim finds the old footage and discovers that the “leader” of the gang is a man named Floyd. He was wearing a shirt that reads ‘Kleg’s Auto.’
Alfred gets a visit from his old friend Reggie. Reggie informs Alfred of the hard times that he has fallen on. Bruce meets him and insists that Reggie stay with them for a few days.
Fish is being escorted to her meeting with the manager. It appears she is in the basement of some kind of psychiatric hospital. She meets the manager and finds out that he is not in charge, but a man named Doctor Dollmarker is in charge. Fish refuses to talk more until she meets the doctor, she claims the basement belongs to her.
The Red Hood Gang is celebrating their latest success with Floyd bragging about how they steal from the rich and give to the poor. He stands up before them and says whoever is wearing the Red Hood should be in charge. One of the other men immediately shoots him in the stomach and picks up the hood.
Oswald is watching comedy night at his club go down the drain. One of the bartenders informs him that they are out of alcohol. Butch informs him that Maroni controls the alcohol and that since he can’t kill Oswald, he is going to punish him. Oswald goes out to pursue more alcohol.
Jim and Harvey arrive at Kleg’s Auto. They are discussing Jim’s relationship with Leslie when they find Floyd dead in the refrigerator. Harvey thinks since the leader is dead maybe the Red Hood Gang is done. We then see the gang robbing another bank and they end up doing the same as before…throwing up the stolen money for the people to claim.
Harvey and Jim discuss the Red Hood Gang and they are given a witness named Mr. Chang. He said he saw a larger man wearing the red hood. Harvey suggests they get the sketch artist and have a lineup.
Bruce tells Reggie of the training he is undergoing. Reggie offers some advice to Bruce and their training becomes intense. He is motivating Bruce but Alfred comes in and breaks up the fight. Alfred tells Reggie they need to leave their past where it belongs.
Oswald is preparing to rob a liquor store when the police arrive to confiscate the liquor. Butch appears out of nowhere and informs Oswald that the police are with him. Oswald looks confused as Butch smiles and says “you’re welcome Oswald.”
We see a devastated Barbara at Jim’s old apartment. Selina tries to offer some comfort and Barbara admits she likes having Ivy and Selina there. Barbara offers Selina some new clothes and is trying to help her clean up her image. Selina denies, asking what has true beauty done for Barbara.
Harvey, Jim and Mr. Chang are looking at the lineup they have set up. Mr. Chang recognizes man #4 as the Red Hood. His name is Clyde and Jim suggests they don’t have enough evidence to book him. Jim thinks that since they are turning on each other that they should catch the gang in the act.
Fish returns to the manager and wants to know why they are stealing body parts. The manager says for many reasons, including the Doctor’s personal experiments. The manager offers Fish two choices: He can kill her now along with everyone in the basement, or he can take out her eyes and she how long she lasts. Fish says you forgot about option three. She grabs a spoon and stabs herself in her left eye. She rips out her eyeball and smashes it on the ground. She stares at the manager then passes out.
Bruce brings up a bottle of wine for Reggie and Alfred to enjoy. They sit down at the table while Reggie is telling them old stories. Bruce is curious about his military past. Alfred seems a bit skeptical for Bruce to hear too much about his past. Reggie asks why Alfred doesn’t want Bruce to know the truth about him. Bruce overhears what Reggie says about him.
Harvey and Jim are tailing Clyde and they see him go to his apartment. A member of the gang is waiting for him in the apartment. The man wants to borrow the hood. Clyde refuses saying they have one more job before they split up. He pulls a gun on Clyde. The man shoots Clyde and Jim and Harvey race inside the apartment. They see a wounded Clyde and he tells them he was trying to get a loan for a pastry shop. Clyde claims the banks don’t care about the people. They figure out the next target.
Oswald’s club is completely stocked with liquor. Butch says the club must be a success or they will be in a bad way with Falcone. Oswald and Butch have different opinions about Fish.
Alfred finds Reggie stealing from them. Reggie says that he is in real trouble. Alfred wants to help him. Reggie apologizes, then stabs Alfred. Alfred is bleeding out badly as Bruce rushes in to put pressure on the wound. Bruce calls for an ambulance and screams for Alfred to stay with him.
The Red Hood Gang is preparing for their final job. Harvey and Jim arrive with backup. A shootout breaks out between the gang and the police. The police take down the Red Hood Gang. Jim picks up the Red Hood and then gets a call and rushes to the hospital.
We see Jim arrive in Alfred’s hospital room and stand next to a devastated Bruce. Alfred seems to be in critical condition. We see Reggie talking with the board of Wayne Enterprises. It appears that the board was behind Reggie arriving to Wayne Manor. Reggie says the time is now to make a move on Bruce.
We see someone on the street pick up the red hood mask that was dropped by Jim and start pointing their fingers like a gun and aiming at the police…