CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Revenues:
Principal transactions	$ 7,891	$ 16,460	$ 29,211	$ 61,801
Commissions	16,197	16,339	35,348	34,798
Investment banking	9,115	10,042	15,793	20,364
Investment (losses)/gains, net	(139)	368	(7)	(318)
Interest income	11,558	14,884	30,762	29,952
Gain from bargain purchase - ClearPoint Funding, Inc. acquisition (Refer to Note 11)				2,330
Fees and other	3,527	1,341	6,404	2,465
Total revenues	48,149	59,434	117,511	151,392
Interest expense	3,502	3,055	8,121	5,624
Net revenues	44,647	56,379	109,390	145,768
Expenses (excluding interest):
Compensation and benefits	32,606	37,286	76,325	96,374
Impairment of goodwill (Refer to Note 12)	21,096		21,096
Clearing, settlement and brokerage	8,695	5,284	21,688	10,071
Communications and data processing	3,160	3,279	6,479	6,494
Occupancy, depreciation and amortization	2,236	2,159	4,370	4,071
Business development	981	1,236	1,999	2,344
Other	7,624	4,719	14,466	9,270
Total expenses (excluding interest)	76,398	53,963	146,423	128,624
(Loss)/income from continuing operations before income taxes and discontinued operations	(31,751)	2,416	(37,033)	17,144
Income tax expense	29,058	1,164	28,492	7,293
(Loss)/income from continuing operations	(60,809)	1,252	(65,525)	9,851
(Loss)/income from discontinued operations, net of taxes (Refer to Note 24)	(23)	(11,672)	9	(13,066)
Net loss	$ (60,832)	$ (10,420)	$ (65,516)	$ (3,215)
Basic (loss)/income per share
Continuing operations (in dollars per share)	$ (0.51)	$ 0.01	$ (0.55)	$ 0.08
Discontinued operations (in dollars per share)		$ (0.09)		$ (0.11)
Net (loss)/income per share (in dollars per share)	$ (0.51)	$ (0.08)	$ (0.55)	$ (0.03)
Diluted (loss)/income per share
Continuing operations (in dollars per share)	$ (0.51)	$ 0.01	$ (0.55)	$ 0.08
Discontinued operations (in dollars per share)		$ (0.09)		$ (0.10)
Net (loss)/income per share (in dollars per share)	$ (0.51)	$ (0.08)	$ (0.55)	$ (0.02)
Weighted average shares of common stock:
Basic (in shares)	119,564	124,061	119,176	123,825
Diluted (in shares)	119,564	130,606	119,176	130,698