CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2012	Mar. 31, 2011
Revenues:
Principal transactions	$ 21,320	$ 45,341
Commissions	19,151	18,459
Investment banking	6,678	10,322
Investment gains/(losses), net	132	(686)
Interest income	19,204	15,068
Gain from bargain purchase - ClearPoint Funding, Inc. acquisition (Refer to Note 11)		2,330
Fees and other	2,877	1,124
Total revenues	69,362	91,958
Interest expense	4,619	2,569
Net revenues	64,743	89,389
Expenses (excluding interest):
Compensation and benefits	43,719	59,088
Clearing, settlement and brokerage	12,993	4,787
Communications and data processing	3,319	3,215
Occupancy, depreciation and amortization	2,134	1,912
Business development	1,018	1,525
Other	6,842	4,134
Total expenses (excluding interest)	70,025	74,661
(Loss)/income from continuing operations before income taxes and discontinued operations	(5,282)	14,728
Income tax (benefit)/expense	(566)	6,129
(Loss)/income from continuing operations	(4,716)	8,599
Income/(loss) from discontinued operations, net of taxes (Refer to Note 24)	32	(1,394)
Net (loss)/income	$ (4,684)	$ 7,205
Basic loss per share
Continuing operations (in dollars per share)	$ (0.04)	$ 0.07
Discontinued operations (in dollars per share)		$ (0.01)
Net loss per share (in dollars per share)	$ (0.04)	$ 0.06
Diluted loss per share
Continuing operations (in dollars per share)	$ (0.04)	$ 0.07
Discontinued operations (in dollars per share)		$ (0.01)
Net loss per share (in dollars per share)	$ (0.04)	$ 0.06
Weighted average shares of common stock:
Basic (in shares)	119,510	123,564
Dilutive (in shares)	119,510	130,766