Captain America was trapped between two walls in the previous issue, which will continue moving towards him until they crush him. Confident that he is as good as dead, the Red Skull leaves, going to destroy Earth's cities by using his plastic bubble device to levitate them into the air and the drop them, destroying them forever. Once he's gone, Cap throws his shield at the control panel, shattering it and stopping the walls moving. By a lucky coincidence, a loose wire falls down to Captain America, which he uses to escape. He then keeps the wire, and ties it to his shield before throwing it after the Red Skull's escaping ship. It successfully manages to attach, meaning Captain America can still stop the Red Skull.
Unfortunately, the Red Skull sees Captain America hanging from his ship and so lowers his ship low enough that Captain America is submerged in water. Captain America manages to climb out of the water and onto the tail of the ship, out of the Red Skull's sight. He then smashes a window to get into the Skull's ship, just as the Skull uses his plastic bubble device on New York City. Captain America approaches the Skull, who sends him down a trapdoor and has him fight a robotic dog. Cap uses the robot to get back up to the Skull's control room, where he attacks the Skull. As punishment for Captain America attacking him, the Skull threatens to drop the bubble containing New York. He tells Cap that unless he agrees to serve him faithfully for 24 hours, he'll drop the bubble and all of New York will perish. Cap unhappily agrees, and the Red Skull quickly relays this news to New York, making Cap seem like a traitor to his country.
At the end of the previous issue, Jasper Sitwell was about to remove Iron Man's helmet in an attempt to save him, as he's just blacked out. Fortunately, Iron Man's helmet is booby-trapped against such things, and Jasper is unable to remove the helmet. Jasper then tries using a tiny explosive to blow the helmet off, but is still unsuccessful.
Meanwhile, on a gambling ship secretly owned by the Maggia, Tony's cousin Morgan Stark is taken to see the head of the Maggia, Big M. As he's being taken, he hears a sharp cracking noise, and wonders what it is. Big M tells Morgan that it's Whiplash practising, and that he'll kill Morgan, since Morgan has money debts he owes the Maggia. Luckily, before this can happen, a TV report of Iron Man being knocked unconscious is broadcasted, and Morgan convinces the Maggia that if he can get them Iron Man to finish off, they'll cancel his debt.
Morgan then gets taken to Stark Industries, where he convinces the guards that Tony sent him to get Iron Man to him. He drags Iron Man to his car and then drives off. Whilst in the car, Iron Man regains consciousness, but is still low on power, so connects his chestplate to the cigarette lighter to recharge slightly. Iron Man is then taken to the Maggia and the Big M. He takes out all of the Maggia's goons, before the Big M activates a trap which separates him from the rest of the group. A dark shadow then approaches, announcing himself as Whiplash....