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Prior to The Siege of Asgard, The Hood shows Norman Osborn the Norn Stones, the new source of his power. Osborn makes a deal with The Hood to get his people on his side in the invasion of Asgard.
Fast forward to The Siege, The Hood and his girl, Madame Masque, escape after Loki revokes the Norn Stones and their power.
They are now on the run.