In essence:
Knicks get Derrick Rose, Terrence Ross, Nikola Mirotic, Bobby Portis and Sacramento's 2016 (top 10 protected) pick from CHI.
Bulls get Blake Griffin, Kevin Seraphin and Jose Calderon
Clippersget Carmelo Anthony, Kyle O'Quinn and Taj Gibson
Raptors gets Lance Stephenson's expirer as well as CJ Wilcox (and a promise from the Knicks that they'd tank the season and increase the value of their 2016 pick for Toronto)
Clippers do the deal because they improve their depth and floor spacing abilities at the forward position. Melo is also a far superior shot creator to Griffin, which means a lot come the playoffs.
The Bulls do the deal because it affords them the opportunity to consolidate their value at the forward positions into a franchise caliber PF, in a relatively young Blake Griffin while moving Derrick Rose's albatross of a contract. Just imagine how seemlessly Griffin would fit next to Pau and Jimmy Butler (and their remaining role players).
Toronto does the deal because they can get tremendous value for a surefire lottery pick courtesy of us moving Melo/tanking, while jettisoning Terrence Ross' contract
We do the deal because it allows us an opportunity to bring in intriguing young talents in Bobby Portis, Terrence Ross and Nikola Mirotic, while furthering our rebuilding efforts with a quality 1st round pick from Sacramento.
http://espn.go.com/nba/tradeMachine?tradeId=zx48xrs