Fighting American

Fighting American was a superhero created by Jack Kirby and Joe Simon (the creators of Captain America). The duo first had FA be a serious hero that fought communists. However after when it become clear McCarthy was "damaging innocent Americans" (Joe Simon), they turned the Fighting American into a parody.
Character History
Nelson Flagg was the younger brother of Johnny Flagg, an athletic war hero. When Johnny became outspokenly anti-Communist, he was killed. Nelson decided to hunt down the murderers. In "Project Fighting American", Johnny's life force / mind was transferred to a superhero body. He assumed Johnny's identity and became the superhero Fighting America to fight Communists. An unnamed teenager became his sidekick Speedboy.
Later Verisons
DC Comics had a six-issue miniseries about Fighting America. This was created by Dave Rawson, Pat McGreal (writers) and Greg LaRocque (art). Here FA is an ex-radio host wanting to avenge the death of his brother.
Awesome Entertainment gave the Fighting American a two-issue miniseries. The script was originally intended for Captain America for the "Heroes Reborn", but that didn't work out. In the comics, the Fighting America was an out-of-work superhero and trying to cope with the death of his partner.
There have been talk of a Dynamite Entertainment miniseries.
References:
http://en.wikipedia.org/wiki/Fighting_American