Marvel: 12 MCU Theories That Make Appalling Sense
3. Obadiah Stane Is The Real Mandarin (Or Is In HYDRA)
The Theory
Not only is Obadiah Stane still alive, he's actually the real Mandarin. And not only that, Stane - as the real Mandarin - is no more than another arm of HYDRA.
The Evidence
The Mandarin theory comes down to the fact that Stane is somehow able to wield the entire power of the Ten Rings terrorist network, which would be difficult for any leader, but particularly a supposed outside influence. The only explanation is that he's their real leader, and he's still pulling strings from the shadows.
The HYDRA point is more simple to pin-point, as it seems to fit perfectly with what Stane says ominously to Tony Stark when he paralyses him at the end of Iron Man. He says that Tony’s arc reactor would “help us steer the world back on course, put the balance of power in our hands, the right hands.” How much does that sound like HYDRA's entire mantra?
As Jeff Bridges revealed, Stane was supposed to survive Iron Man, so there were clearly plans for him to return, as he hinted in an interview with io9:
The Iron Monger falls into this big pit of whatever it is, some kind of acid or something, in his costume. They pull it up in the big crane and they open up his costume and he’s gone. And when we were shooting that film they said, “No we’re not going to do that. We’re just going to have you go.” And I said, “Oh poop, I was kind of disappointed.” Because I was thinking [I would] be in the sequels. But they said it’s a comic book maybe the Iron Monger will come back. I said “Yeah, right.”