Everything is seemingly coming to a head. The fake homeless murders are becoming bigger than what McNulty and Freamon had in mind. McNulty is obviously stressing about it, and also feeling a sense of guilt. He ends up telling Greggs and Beadie, however they completely disapprove of it. Freamon still claims, with a big break in the wiretap itself, that the case is soon coming to a close. That knowledge still doesn't have McNulty sleeping well at night.
An injured Omar is shuffling through the streets of Baltimore on a rampage, however all of this comes to an end in the most ironic, yet real ways it could go down. With the risk of giving spoilers, just watch the repeat.
Templeton writes a piece on the Homeless candlelight vigil that Mayor Carcetti spoke at, however Haynes, not really trusting Templeton, disapproves of his sourceless opening and "spikes the lead". All season there has been this internal struggle at the newspaper between the Managing Editor and both the City and Metro Editors. You boil it down and it's a philosophical battle between having good news content and sales, and how sales is winning. David Simon, the creator of The Wire, used to be a Baltimore journalist, so one can see his personal touch in a definite way on this storyline.