The NBA cancelled the Chris Paul trade to the Lakers due to "basketball reasons." Let's accept the explanation at face value for a second. Does the NBA have a point at all?

If the Golden State Warriors or L.A. Clippers trade young studs for Chris Paul, they'll have no guarantee he will re-sign next summer. Given that, isn't the risk of losing it all too much to bear? Plus: the spinning Lakers get desperate.

As Chris Paul trade rumors reach a fever pitch, David Stern's problem gets bigger and bigger. If the NBA-owned Hornets deal CP3 to a major market, how can Stern keep a straight face when talking to small-market owners about competitive balance?