Frustrated with their work and their meager paychecks, New York City police officers Joe (Joseph Bologna) and Tom (Cliff Gorman) decide to pull a heist while the city is distracted by a parade. After a meeting with a mobster who's looking for bearer bonds, the men rob a bank and walk away with millions of dollars in loot. But when a planned exchange of the bonds for cash goes awry, the officers try to fix the mess before their colleagues figure out who staged the crime.