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Still out of work and now grotesquely overweight, Peter finally decides to find his true calling: fishing. He doesn't have the money to buy a boat so he goes to a police auction and overbids on one. Peter visits a loan shark and unwittingly signs a contract that will put him in debt forever. When Peter finds out about a mythic fish with a price on its head, he realizes that it's his best way of getting all his money back and his now repossessed house and possessions. Peter and the guys set out to catch Daggermouth, the man-eating bluefish. They go out and find the fish, only it turns out to be a robot. He collects the cash and gets everything back.

Meanwhile, Lois tries to cheer up Meg because she wasn't invited anywhere for spring break. Lois takes her to a beach party and Meg gets jealous of all the attention her mom is getting. When it becomes too much to bare, Meg decides to flash all the spring breakers. Lois and Meg consequently get arrested.

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