CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) In Thousands, except Per Share data	3 Months Ended		9 Months Ended
	Sep. 30, 2011	Sep. 30, 2010	Sep. 30, 2011	Sep. 30, 2010
Revenues:
Principal transactions	$ 25,528	$ 35,502	$ 121,506	$ 114,831
Commissions	231	149	853	1,143
Investment banking	9,359	11,468	29,723	32,042
Investment banking revenues from related party		297		1,647
Investment gains/(losses), net	2,857	979	2,539	(533)
Interest income	16,249	14,132	46,201	42,662
Gain from bargain purchase - ClearPoint Funding, Inc. acquisition (See Note 11)			2,330
Fees and other	2,612	258	5,075	569
Total revenues	56,836	62,785	208,227	192,361
Interest expense	2,672	2,921	8,295	9,165
Net revenues	54,164	59,864	199,932	183,196
Expenses (excluding interest):
Compensation and benefits	32,684	47,057	129,058	152,727
Impairment of goodwill and intangible assets (See Note 12)	80,244		80,244
Clearing, settlement and brokerage	8,946	1,042	19,017	3,258
Communications and data processing	3,614	3,048	10,108	8,660
Occupancy, depreciation and amortization	2,041	1,962	6,112	9,503
Business development	1,139	1,137	3,483	3,205
Loss from extinguishment of mandatorily redeemable preferred stock (See Note 16)		1,608		1,608
Other	4,281	4,342	13,550	13,252
Total expenses (excluding interest)	132,949	60,196	261,572	192,213
Loss from continuing operations before income taxes and discontinued operations	(78,785)	(332)	(61,640)	(9,017)
Income tax (benefit)/expense	(3,085)	1,312	4,208	(2,144)
Loss from continuing operations	(75,700)	(1,644)	(65,848)	(6,873)
Loss from discontinued operations, net of taxes (See Note 25)	(5,357)	(1,092)	(19,011)	(1,311)
Net loss	$ (81,057)	$ (2,736)	$ (84,859)	$ (8,184)
Basic loss per share
Continuing operations (in dollars per share)	$ (0.61)	$ (0.01)	$ (0.53)	$ (0.06)
Discontinued operations (in dollars per share)	$ (0.04)	$ (0.01)	$ (0.15)	$ (0.01)
Net loss per share (in dollars per share)	$ (0.65)	$ (0.02)	$ (0.69)	$ (0.07)
Diluted loss per share
Continuing operations (in dollars per share)	$ (0.61)	$ (0.01)	$ (0.53)	$ (0.06)
Discontinued operations (in dollars per share)	$ (0.04)	$ (0.01)	$ (0.15)	$ (0.01)
Net loss per share (in dollars per share)	$ (0.65)	$ (0.02)	$ (0.69)	$ (0.07)
Weighted average shares of common stock:
Basic (in shares)	123,993	121,773	123,598	120,577
Diluted (in shares)	123,993	121,773	123,598	120,577