In the Autumn of 2099, the second American revolution exploded. The fractured states of America, ruled by the U.S. Megacorps, were a beserk, pulloted danger to the entire planet - a rabid dog in hungry pursuit of the profit motive.
Doom, ruler of the European state of Latveria, was forced to the conclusion that, in his continuing bid to save his home, he must first save America - from itself. So he took over America.
Claiming the presidency by right of revolution, Doom has cowed the Megacorps, forcing them to use their money to rebuild the country they have almost ruined.