TNA sucks the big one right now, but botched angle of the year has to go to WWE and Nexus, mainly based on the grounds that it started off really good and could've been really great. The only saving grace for the angle is that it's legitimately raised the profile of a few new young stars.
Just to review though.
1. Cena gets fired
2. Cena makes a nuisance of himself for a few weeks, seemingly going where he wants, whenever he wants, which includes getting on the Titan Tron backstage with security nowhere to be seen.
3. Barrett says that no matter what Cena does he won't get reinstated
4. Barrett then succumbs to peer pressure and reinstates Cena, on two conditions.
Condition 1: He gives Cena what he wants (Otunga)
Condition 2: He gives Cena what he wants (Barrett)
This angle really fell apart with the emergence of Juan Cena. I know he never made his way onto TV, but watching the angle unfold over the last month since Cena got fired gives the definite impression that it's been on the fly booking.