Too cheap or too busy to actually watch Iron Man 2? Yet you do want to know what happened.
Allow me, Mystery Black, to tell you vaguely what happened.
Basically Ivan Vonko sees that Tony Stark has created a mini Arc Reactor. Using stolen plans from his recently diseased father he builds his own reactor and weapons that are electric Whips. Stark is busy with the public in his Exposition trying to promote peace and cooperation.
Stark gets called to court on turning in the Iron Man suit because Senator Stern (I believe that is his name) sees it as a weapon; Justin Hammer of Hammer industries (which I think the name is a reference to the Dark Reign series where osborn takes over S.H.I.E.L.D. naming it H.A.M.M.E.R.). Stark makes a mockery of them supporting his claim that others aren't even years close, he shows tapes of failed attempts from N.Korea Irag and Hammer Industry.
He has a high toxic level in his blood building up where you see these gray lines expanding from the arc reactor at his heart which constantly need to replace parts. He needs to replace this with something more permanent which is some miracle element not existing.
So seeing Stark has a little days left he starts taking preparations into leaving a legacy. He appoints Pepper Potts as his C.E.O. He donates many of his valuable stuff and parties hard.
In a race car event in Monaco Stark takes a race car but the race was interrupted by whiplash. Much destruction, you see an awesome new Iron Man Suit made from a suitcase and Whiplash or Vanko goes to prison. When Vanko was confronted by Stark he made a few remarks hurting his feelings, saying that if god bleeds people won't believe in him so he wants to shake confidence in Iron Man. Justin Hammer was a witness to the battle and soon helps him escape on the premise that Vanko helps make Iron Man suits for him.
Pepper Potts who now is overwhelmed running the company hires sexy and smart Rushman Natalie (I hope i don't get that name wrong either), who later turns out to be working for shield, presumably the Black Widow. Potts gets more and more stressed, and Stark is starting to die even faster.
Eventually on Stark's Birthday Rhodes takes actions against Starks Duped behavior and takes the MARK II iron man suit against tony and a bad-@$$ fight scene ensues destroying many walls and windows of the house. It was a phenomenal battle of two Iron Men. It was left a tie out of a collision of both of their energy beams leaving them both Knocked Out. Rhodes gets up and flies off with The Mark II Iron Man suit.
Later Stark talks with Nick Fury on what Starks actions are leading him to. Fury tells on how Whiplashes father was a co-founder of the Arc reactor which was meant to start an energy cold war. He is left with possessions of his father and finds out he has the designs for this mystery element he needed earlier left from a recording from his father and tables of his visions of the future with plans of what is needed yet he was limited in technology from his time so he left it to Tony to build it later. So with a laser made level with a captain america sheild to make it more level Tony Stark makes this blue laser hit a Triangle thing to make it glow and solve his poisoning problems by replacing that triangle thing in the Arc reactor.
Meanwhile Whiplash takes the resources from Hammer to build an army of self serving military drones while secretly making a suit for himself. However because of lack of results he turns to Rhodes' newly acquired Iron Man suit and pimps it out (I am saying that because a song playing during this gave me those words) with machine guns, more guns and most importantly an armed devastating mini missile called the "Ex-Wife."
Justin Hammer goes to the Stark Expo to present his drones and his *cough* Iron Man prototype, but they all come under control of Vanko. Stark arrives in an improved Iron Man Suit (slightly bulkier, but the most noticeable difference is a triangle instead of a circle). There is a fight with Rhode's / War Machine's suit being controlled, chaos in the midst of thousands ensues. Amazing scenes of fighting. Potts and Natalie find out where whiplash is controlling the suits, Potts has Hammer arrested and Natalie takes out Whiplashes control over Rhodes by finding his computer in Hammer's facility. Stark and Rhodes fight Whiplash in a modified suit and eventually they win with the colliding beams move between Rhodey and Stark. But in Whiplashes last words he blows everything up because the Drones and His core were rigged to Blow.
Pepper gets saved by Iron Man, and Tony lives very happily with his court problems gone courtesy of Nick Fury (yet Stark was demoted from the Avengers Initiative, only to be a consultant).
**** Post Credits: After the long credits line of actors and Grapic designers you see this scene.
New Mexico, a shield agent drives up to a crater where much bustling analysts are involved, at the center of the crater, shown by a clever camara angle, you see Mjonir or Thor's Hammer. That's my biggest disapointment, I expected to actually see Thor or Captain America, not just that little Hammer. Oh well *****