Theory: Falcon & Winter Soldier's Real Villain (& All Episode 1 Setup)
The Falcon & The Winter Soldier episode 1 subtly set up the show's true villain, the Power Broker. The events of Avengers: Endgame saw the world transformed when the Hulk successfully restored half the lives in the universe, who had been erased from existence by Thanos five years earlier. Sam Wilson and Bucky Barned - the Falcon and the Winter Soldier - were among those who were brought back, and they're struggling to acclimatize to this brave new world.
As War Machine explained to Falcon on the premiere of Falcon & Winter Soldier, the Blip has destabilized geopolitics on an unprecedented scale. "World's a crazy place right now," he explained. "People are... well, nobody's stable. Allies are now enemies. Alliances are all torn apart. The world's broken. Everybody's just looking for somebody to fix it." Some are looking to extremists like the Flag-Smashers, terrorists who desire to create a world without borders, and actually seem nostalgic for the Blip. Others are willing to put their faith in a new Captain America, one who will prove to be deeply flawed if the comics are anything to go by.
But, as exciting as these new potential enemies may be, Falcon & Winter Soldier actually sets up another enemy - a single villain who could be behind both the Flag-Smashers and the new Captain America. It looks as though Sam Wilson and Bucky Barnes are about to cross the path of Power Broker.
Power Broker Inc. was an organization dedicated to creating superheroes, an alliance between ruthless businessman Curtiss Jackson and scientist Karlin Malus. Although Jackson served as the front for the corporation, even calling himself the Power Broker on occasion, in truth Malus was the most important figure in all this; he was an amoral scientist who had become fascinated with superhumans, and attempted to figure out how to duplicate their powers. He crossed paths with numerous superheroes over the course of his career, ranging from Spider-Woman to Werewolf By Night, and even succeeded in replicating Hank Pym's Pym Particles. The partnership between Jackson and Malus was one of convenience rather than trust, and the two frequently betrayed one another; in fact, at one point Jackson had his goons break Malus' legs in punishment.
There have long been reports Power Broker would be introduced in Falcon & Winter Soldier, and this is apparently confirmed in the credits. These feature a blink-and-you'll-miss-it reference to the villain, with a poster ominously reading, "Powerbroker is watching." What's more, the brief reference was accompanied by a blue vial of some kind. This could well be some sort of super-soldier serum, although it's difficult to say how it works. It could be a modern equivalent to Captain America's super-soldier serum, permanently transforming a person. But that isn't necessarily the case; the injection could potentially have only a temporary effect, equivalent to a drug from the comics called "Mutant Growth Hormone" that grants super-powers for a brief period. A third alternative is that the drug serves to stabilize a super-soldier transformation; in the comics, Malus used such drugs to augment his experiments. They were addictive, allowing him to force test subjects to remain dependent upon him - and keep giving him money.
This reference to Power Broker would explain Falcon & Winter Soldier episode 1, which suggested the Flag-Smashers have an actual super-soldier. In one scene, First Lieutenant Torres successfully tracked down a Flag-Smasher operation in Switzerland and watched with awe as their apparent leader leaped from the top story of a building only to land on his feet. When Torres intercepted the Flag-Smasher, he was swept aside with ease, with his opponent demonstrating superhuman strength. This Flag-Smasher could well be one of the Power Broker's test subjects.
What's more, he might not be the only super-soldier among the group. Trailers for Falcon & Winter Soldier have shown another of the terrorists - Erin Kellyman's Karli Morgenthau, the real leader - confronting Bucky and Sam during a heist of some kind. "That little girl kicked yo' a**," Falcon told Bucky in delight, enjoying mocking him. No ordinary terrorist should really be able to hold her own against the Winter Soldier, so it's reasonable to assume Karli Morgenthau is another Flag-Smasher who has been enhanced. The interesting question is whether these enhancements are permanent, or whether any member of the Flag-Smashers could inject themselves with the Power Broker's serum in order to become enhanced for a brief period of time.
Falcon & Winter Soldier episode 1 also introduced the MCU's next Captain America, John Walker, better known to comic book readers as the US Agent. He's only made a brief appearance, but realistically this new Captain America needs to have super-powers of some kind for a simple narrative reason; Falcon needs to learn the same lesson Erskine taught Steve Rogers, that raw power is not what makes a man great. Sam Wilson needs a contrast in order to realize he is worthy to wield the shield not because of superhuman abilities, but because of strength of character.
In the comics, John Walker was actually another of the Power Broker's test subjects. He began his superhero career as the so-called Super-Patriot, leading an anti-Captain America tour denouncing Steve Rogers as outdated and ill-suited to represent the US. When the two eventually clashed, Rogers was shocked to discover Walker was too much for him to handle, and the battle only ended when Super-Patriot got bored - giving an indication of just how physically powerful he is. If the MCU's John Walker also gained his powers from the Power Broker, then we potentially have the first signs of a grand conspiracy - a super-patriot on one side, and super-terrorists on the other, with both sides being granted their abilities by the same shadowy figure.
Intriguingly, Falcon & Winter Soldier episode 1 also introduced another figure with ties to the Power Broker. In the comics, Joaquin Torres became the next Falcon back in 2015 when the Mexican immigrant investigated a terrorist group called the Sons of the Serpent, who were kidnapping immigrants who were crossing the Mexican border. Torres' grandmother, Maria, contacted Sam Wilson - who at the time was serving as Captain America - and asked for his help; by the time Sam found Torres, the teenager had been passed to the Power Broker and transformed into a human-avian hybrid. Where Sam Wilson's Falcon wings are artificial, Joaquin Torres' were grafted on to his body. It's entirely possible the MCU will take a similar approach, transforming First Lieutenant Torres into a literal superhero sidekick, the next Falcon.
There is one catch, however; Power Broker may need to be changed because of Jessica Jones. Season 2 introduced Marvel Television's live-action Dr. Karl Mallus, played by Callum Keith Rennie, founder of a clinic called IGH who created superhumans like the Whizzer. It's unlikely Marvel Studios would allow themselves to be bound by anything in the old Marvel TV shows, but the fact remains they've never liked repeating stories that have been done before. So anyone familiar with the comics should expect some surprises in Falcon & Winter Soldier.
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