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With the opening of the bar Angels & Kings, on East 11th Street in New York City, the owners – Fall Out Boy bassist Pete Wentz, Gym Class Heroes lead Travis McCoy and clothing designer Jamison Ernest – finally have a place where “all our loser friends can hang out.”

Well, at least he’s being honest about Ashlee Simpson.

Wentz, who was recently named to People‘s “most beautiful” list (WTF?) told the New York Post he’s tired of clubs with door policies and pretentious, uptight bull$h!t and wanted a place for his pals to kick back.

“It’s different when you want to bring your friends to a place… and maybe we’re just not cool enough to get in. We really just want someplace where we can hang out and be ourselves.” 

So basically, Pete Wentz is not cool enough to get into Hyde.

We see how it goes. At least we still have Spencer Pratt to harass when we go. Anyway, as for Wentz’s new place, will the Fall Out Boy gang be there?

“Yeah, I’m just gonna be local and drink umbrella drinks,” he said. “It will be a bit of a dive, which we need.”

Umbrella drinks? Who do you think is gonna go there, Howie Day?

“Our vision was a place that anyone can go and have sex in the bathroom and not get in trouble,” he added.

We wonder what Ashlee thinks of that plan. Wow. Note to self: remember to knock if we go to the can in this dump, otherwise we might get a glimpse of John Mayer naked. Then again, we’d probably also see Jessica Simpson’s giant boobs