http://games.espn.go.com/nba/tradeMa...radeId=yfoop6b

Raptors get: Desagnia Diop and Caron Butler
Wizards get: Raymond Felton and Antoine Wright
Bobcats get: Jose Calderon, Rasho Nesterovic and Marco Belinelli

Why the Raptors do it? Chance to get out of Calderon's contract and role the dice with Jack and Turk/Banks to bring the ball up. Butler could be the 6th man that we need to so badly. Everyone expects Washington to blow it up soon and either Butler or Jamison can be had for expiring deals. Diop is nothing but he'll be the 4th or 5th in our big man rotation and an expiring deal next year

Why Wizards do it? Expiring contracts for Butler is what they're looking for, maybe they get some picks or cash in there as well

Why the Bobcats do it? Because they are very poorly run and Larry Brown loves to trade his players and is constantly looking for his point guard especially. Felton fell out of favor for Augistin last year and now Augistin has fallen out of favor this year. They've already made trades this season to help out the Hornets (Chandler) and Warriors (Jackson) so why not us?