In a Medisuelan jungle, Punisher finds himself tracking the enemy in the jungle once again. Using Captain America's shield, he takes down his enemies swiftly and brutally. He is at war again. Not far away, Cap is strung up by General Navatilas's men about to be painfully executed. Punisher gets the shield inside with a bomb, allowing Cap to break away before they are assaulted by more of Navatilas's men. Before the firefight can get far, the army's weapons explode, proving to Rogers and Castle their suspicions about the American government weapons pipeline. Terror (the character) cleans up the mess after they leave, for his own purposes. Back in America, Mollech's plans are starting to unravel, and his aide and militia associates are prepared to initiate their endgame, with or without him. Terror makes his way to General Navatilas, preparing his own endgame.
While preparing their own final assualt, Punisher and Cap reflect on the situations that made them what they are, at least initially. Cap became a symbol of American patriotism in order to stem the German Menace during WW2; Punisher became a symbol of living revenge for both losing his family and feeling betrayed by the government during Vietnam.
The militia attacks Medisuela in helicopters, and Cap and Punisher end up destroying the fleet by themselves, in part to save the innocent civilians. During the assault, other militia members infiltrate Navatilas's hideout and execute him. Punisher takes them out, and Cap clobbers the leader of the militia, who takes a suicide capsule forestalling capture. After the firefight, Cap and Punisher meet Terror, who convinces them to leave Navatilas to him in exchange for information on Mollech and his aide.
Back in America, Cap and Punisher damage the plane Mollech and his aide are attempting to escape in before they can leave. Punisher kills the aide, and Cap is about to kill Mollech for betraying the America for which Captain America has stood for decades, but Punisher warns him about taking that first step down the path of vigilante justice (i.e., murder): it is not a path from which he will be able to return. Cap listens and lets justice rule out. Later, after Mollech has been arrested, Steve Rogers and Frank Castle meet one last time to discuss who they are and what they were. For one brief moment, they understand each other and stand together as equals.