Peter buys volcano insurance using Lois's rainy day money and she is furious. Cleveland and Quagmire both express how their Jewish accountants helped them manage their money. Peter sets out to find a Jewish man to save him from debt. A Jewish man just so happens to come to The Griffins house to use their phone. Peter convinces the man to help him out of their money troubles.
After the Jewish man is gone, Peter wants Chris to become Jewish so he takes him to a quickie Barmitzvah place in Las Vegas. Lois saves Peter from making the wrong decision and Peter learns that Jewish people are no smarter than any other religious group.