Timberwolves trade Derrick Williams/Brad Miller/Wesley Johnson/Wayne Ellington
Gets Kevin Martin/Gerald Hendersonl/rights to swap Bobcats 2015 1st
Bobcats trade Boris Diaw/Gerald Henderson/Bismark Biyombio/2013 Portland pick
Gets Derrick Williams/Terrance Williams/Wes Johnson/Brad Miller/
Rockets trade Kevin Martin/Terrance Williams
Gets Boris Diaw/Bismark Biyombio/2013 Portland pick/Wayne Eliington

Why each teams does it? I think every team came out equal since it fits their specific needs.

Timberwolves fans want Kevin Martin bad. The Wolves need a 2 that can score. Perfect match. I think the Wolves would resign Beasley or go after Batum or Wilson Chandler in free agency. Minny needs veterans/or a good veteran and this trade gives them that. Minny is one good sg and a slightly better upgrade at sf away from playoff contention. Kevin Love is likely going to opt out in 3 years and the Bobcats will still be in the lottery so they can draft a stud pf with the pick. I think later on Kahn will come off as a genius doing this trade. You get the scoring 2 and young 2 that could be your 6th man than a lottery pick when you know your star player may opt out a year later.

Bobcats need something to help build around Kemba. Derrick Williams could be a very good player as a starter. Building around Kemba Walker,Derrick Williams,Anthony Davis and likely a top 5 2013 pick with all the good centers in that draft the Bobcats could actually be a playoff contender in 4 years. The Portland pick is likely 20-23 anyway.

Houston wants to be a major player in free agency. They need a good center and this year free agent class has plenty. They get a 9 million expiring which will make their cap at close to 23 million going into the 2012 free agency. That's a lot considering the cap is rumored to be at 61 million next season.Courtney Lee could start on most teams and I'm sure they probably are looking to move toward him. They get an expiring, a young player, and a 1st, very good trade for them in my opinion.