Mike Florio is reporting that Carson Palmer has been traded by the Cincinnati Bengals to the Oakland Raiders. Jay Glazer broke the story and the compensation appears to be a first-round pick in 2012 and a conditional pick in 2013 which is a second-rounder that could become a first-rounder.

This deal can be a huge win for both teams. The Bengals get two high draft picks for a player who basically told them to go to hell. The Raiders all of a sudden have a front-line quarterback to pair with their powerful running game. They are mortgaging the future, but they must see real potential to get to the playoffs and compete this season. Ironically, this is a the type of deal All Davis would have made.

Palmer has been an excellent quarterback for years, but his skills seem to have slipped a bit. That said, he has a big arm, and he can rejuvenate his career on a team with a running game.

As for the Bengals, everyone left them for dead at the beginning of the season because they had a rookie quarterback, but the Bengals have a solid defense and Dalton looks pretty good so far. Now they have more picks to build for the future.