As reported by pretty much everyone, but let's just link Jayson Stark's tweet, a deal is in place between the Phillies and Astros which would send Roy Oswalt (and maybe cash to the notoriously stingy Phils) to Philadelphia for prospects (maybe J.A. Happ, Vance Worley and a few other guys). All that Oswalt has to do is agree to it and he's a member of the Phillies.
(If you're wondering, because the deal isn't finalized, this gets a still photograph of a wholphin instead of the animated .gif. I'll update the post or do a new one if it goes through and you will get some animated goodness, okay?)
As Ken Rosenthal points out: Why, exactly, did the Phillies trade Cliff Lee? A good point, I guess, or at least a better one when it's not coming from some boorish caller on a sports talk radio show or from the annoying dude next to you at the bar. This is all anyone in Philadelphia has been able to talk about for the last few months, especially whenever a Phillies pitcher gives up more than two runs.
I'm hearing Ed Wade consummated this deal while stuck in a tree.