On Tuesday, February 8, 1977, in Indianapolis, Tony Kiritsis arrives for an appointment with wealthy mortgage broker M.L. Hall at the Meridian Mortgage company. Tony is instead confronted by M.L.’s son, Richard 'Dick' Hall, who reveals that M.L. has left on vacation. Tony seizes the moment, holding Richard at gunpoint and wiring a shotgun to his neck as a dead man’s switch, convinced the Halls cheated him out of potential profit after he bought land to develop and is determined to expose them. He notifies the local police that he has taken Richard prisoner and then commandeers a police car, forcing Richard to drive them toward Tony’s home as the police and reporters close in.
Inside his apartment, Tony booby-traps the doors and windows, and ties Richard and the shotgun to his kitchen table. The building is evacuated, and Tony makes a series of escalating demands, including an apology from M.L. As news of the standoff spreads, Tony lets Richard phone his wife, and then calls local radio DJ Fred Temple, who records him explaining how desperation drove him to take drastic action. The recording becomes a linchpin for Tony’s narrative as the authorities scramble to respond.
The situation draws in the FBI, while M.L. stubbornly refuses to acknowledge Tony’s grievances or offer an apology during a tense phone exchange with Richard and Tony. The police summon Tony’s brother, Jimmy Kiritsis, and the clock ticks toward a televised outlet for a resolution. On Thursday, the plan pivots toward a nationally televised press conference that would ostensibly grant Tony immunity and forgive his debt with millions in compensation, while the authorities prepare to kill him if necessary. With Jimmy’s assurance, Tony proceeds to reattach Richard to the shotgun and proceed with the broadcast.
During the live event, Tony proclaims himself a national hero, and forces Richard to read a statement from the company before taking over the moment himself. Tony then signs documents to guarantee his demands, convinced that he has brought the Halls to justice and secured the money he believes is owed. When Richard is released, Tony fires the shotgun into the air to prove it is loaded, and is promptly arrested. Richard is reunited with his wife, while a furious Tony is taken away.
Months later, Tony stands trial and is found not guilty by reason of insanity, a verdict that unsettles the Halls and the police but garners some public sympathy. Tony asserts his sanity as he leaves the courthouse. Years pass, and Tony and Richard cross paths again at a bakery, wordlessly parting ways. An epilogue reveals that Tony was sentenced to two years in a mental institution, but served an additional eight years for refusing psychiatric treatment. Richard struggles with alcoholism in the wake of his abduction, while the company soon goes bankrupt. The story ends on a note of unresolved tension between the two men and the fragile, oscillating line between justice and desperation.