In 1932, during the waning hours of prohibition and the dawn of the Great Depression, a group of unscrupulous criminals, headed by speakeasy owner Tony Marino, came up with a dastardly plot to come up with some quick cash: to take out three life insurance policies on a haggard, homeless drunk named Michael Malloy. They figured Malloy wasn't far off from the grave, and they wouldn't need to lift a finger to send him on his way. But it turns out that Iron Mike Malloy was a lot more durable than they ever suspected.