This final episode brings the fate of most characters to light as things wind down. It starts with Betsy having a dream about a perfect future, one that includes faces viewers will recognize from the first season. During this moment, Betsy makes a statement about how everyone is born with a purpose to fulfill.
Inside Lou’s car, Peggy — played by Kirsten Dunst — finally comes to terms with all that has happened. As for Ed, death finds him at last, and he doesn’t make it past the final episode. His end comes inside a grocery store freezer where he and Peggy had gone to hide from Hanzee.

While they wait for help, Ed admits that all he ever wanted was to return to the life they had before things changed, while Peggy, on her part, was trying to fix something that didn’t need any fixing.
Peggy’s Breakdown and Hanzee’s Disappearance
Once Lou opens the freezer door, Peggy is pulled back to reality, though her mind is already far gone. The way she speaks at this point sounds more like someone letting out built-up emotions than trying to explain anything clearly. Lou, seeing this, cuts her off with the words, “People died Peggy.”
That moment is the last the audience sees of her, as she fades into her emotional state. Hanzee, on the other hand, finds his way out and disappears. He takes on a new identity and even changes his appearance, now going by the name Tripoli.
The closing moment of season 2 happens at the Solversons’ house. Betsy says “Goodnight” to Mr Solverson, and Lou replies with, “Goodnight Mrs Solverson and all the ships at sea.”
A Closing on Misunderstanding and Chaos
What the end of Fargo season 2 shows is that Hanks had been right all along — most of the violence came from people failing to understand one another properly. The episode ties together the stories of characters like Peggy, Ed, and Hanzee.
Lou manages to survive and live on to face more battles ahead. As the episode comes to a close, it also leaves one thinking about Hank’s idea of using picture-based communication — whether or not such a method could have prevented some of the problems that led to all the chaos.