CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Thousands, except Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Cash flows from operating activities:
Net loss	$ (99,532)	$ (77,690)	$ (82,124)
Adjustments to reconcile net loss to net cash provided by (used in )operating activities:
Impairment of fixed assets and leasehold improvements - restructuring	4,006
Amortization of stock-based compensation	5,592	6,800	15,074
Impairment of goodwill and intangible assets	3,907	21,096	94,555
Investment gains, net	(1,267)	(1,233)	(2,996)
Clawback of stock-based compensation awards subject to non-competition provisions	(577)	(2,630)
Bad debts reserve - loan receivable	400
Depreciation and amortization	699	1,882	1,936
Amortization of intangible assets	196	538	2,099
Gain from bargain purchase - ClearPoint Funding, Inc. acquisition			(2,330)
Loss from disposal of office equipment and leasehold improvements			316
Deferred income taxes		29,144	1,394
Changes in operating assets and liabilities:
Cash and securities segregated for regulatory purposes	7,000	(3,388)	(9,512)
Securities purchased under agreements to resell		1,523,227	(1,436,743)
Receivable/payable from/to related parties, net	17		861
Receivable from others, net	10,872	2,712	4,019
Financial instruments owned, at fair value	1,096,462	458,479	(226,574)
Income taxes receivable/payable, net	3,557	4,099	(2,526)
Other assets	5,243	707	2,482
Payable to brokers, dealers, and clearing organizations, net	(634,358)	(424,703)	(25,831)
Securities sold, but not yet purchased, at fair value	(132,730)	(52,266)	72,348
Securities sold under agreements to repurchase	(159,386)	(1,318,695)	1,478,081
Restructuring reserve (gross payments of $38.1 million; Refer to Note 21)	2,383
Accounts payable and accrued expenses	(8,234)	(8,893)	5,868
Accrued compensation	(32,292)	7,925	(35,853)
Drafts payable	105	(2)	(847)
Net cash provided by /(used in )operating activities	72,063	167,109	(146,303)
Cash flows from investing activities:
Purchases of office equipment and leasehold improvements	(11)	(458)	(2,230)
Payment to former stockholders of Gleacher Partners, Inc. (Refer to Note 24)	(195)	(4,373)
Purchase of investments	(946)	(950)	(1,462)
ClearPoint sale - net payment to Homeward Residential, Inc.	(510)
ClearPoint acquisition - net cash acquired			626
Return of capital - investments	3,802		3,385
Net cash provided by/(used in) investing activities	2,140	(5,781)	319
Cash flows from financing activities:
Proceeds from secured borrowings	185,381	1,492,063	1,645,217
Repayments of secured borrowings	(250,289)	(1,640,766)	(1,475,945)
Purchases of treasury stock		(1,151)	(18,898)
Payments for employee tax withholding on stock-based compensation	(2,624)	(3,005)	(7,601)
Excess tax benefits related to stock-based compensation		8	239
Payment of expenses to purchase treasury stock		(75)	(257)
Repayment of subordinated debt	(186)	(206)	(108)
Net cash (used in)/provided by financing activities	(67,718)	(153,132)	142,647
Increase/(decrease) in cash and cash equivalents	6,485	8,196	(3,337)
Cash and cash equivalents at beginning of the year	44,868	36,672	40,009
Cash and cash equivalents at the end of the year	51,353	44,868	36,672
Cash paid during the year for:
Income taxes	78	382	735
Interest	$ 1,898	$ 12,827	$ 11,174
NON CASH INVESTING AND FINANCING ACTIVITIES
Treasury stock issued, net of forfeitures, for stock-based compensation exercises and vesting and distributions of deferred compensation related to the employee stock trust (in shares)	33,724	287,659	67,312
Common stock issued for settlement of stock-based compensation awards (in shares)	0	2,722	112,860