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John Coogan is a "reformed" Ponzi schemer who creates a film festival financed entirely on credit cards. When his check to secure Tribeca Cinemas for opening night bounces, Coogan moves the festival to his McMansion party house in New Jersey. With his dream crumbling before his eyes, and filmmakers acting outrageously, Coogan sees disaster looming. He hatches a plan to escape with the $100,000 cash prize. The film festival participants all believe they are the next Martin Scorsese, Quentin Tarantino or Wes Anderson etc, and as they screen their efforts we see these wanna-be's short films as comic parodies of the great film masters.