A year after the end of The Ultimates public opinion has turned against the team when it is discovered that Bruce Banner is in fact the Hulk and was responsible for hundreds of deaths. The team is undermined further when Thor is accused of being an escaped mental patient and is incarcerated. This is the doing of his brother Loki, who also facilitates the creation of a new team of anti-American multi-nationals called the Liberators. With the aid of the Black Widow – who betrays the team to the Liberators – the Liberators conquer the United States and capture the Ultimates, but the Ultimates eventually escape. With the aid of Asgardian warriors and American and European heroes, the Ultimates defeat both Loki and the Liberators.