CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) Share data in Millions, unless otherwise specified	9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011
Cash flows from operating activities:
Net loss	$ (68,285,000)	$ (84,273,000)
Adjustments to reconcile net loss to net cash flows from operating activities:
Deferred income taxes (Refer to Note 18)	26,490,000	1,913,000
Impairment of goodwill - Investment Banking (Refer to Note 12)	3,732,000	80,244,000
Impairment of goodwill - MBS & Rates (Refer to Note 12)	17,364,000
Impairment of goodwill and intangible assets - Equities (Refer to Note 24)		14,311,000
Amortization of stock-based compensation	4,538,000	13,418,000
Clawback of stock-based compensation awards subject to non-competition provisions	(2,497,000)
Gain from bargain purchase - ClearPoint Funding, Inc. acquisition		(2,330,000)
Depreciation and amortization	1,455,000	1,433,000
Amortization of intangible assets	371,000	1,976,000
Investment losses/(gains), net	(156,000)	(2,539,000)
Loss on disposal of office equipment and leasehold improvements		316,000
Changes in operating assets and liabilities:
Cash and securities segregated for regulatory and other purposes	5,612,000	(3,900,000)
Securities purchased under agreements to resell	1,390,619,000	(404,379,000)
Net receivable/payable from/to related parties	(4,397,000)	1,028,000
Net receivable from others	5,693,000	3,746,000
Financial instruments owned, at fair value	453,929,000	(388,930,000)
Income taxes receivable/payable, net	6,734,000	(3,262,000)
Other assets	749,000	1,452,000
Net payable to brokers, dealers and clearing organizations	(383,724,000)	298,523,000
Securities sold under agreements to repurchase	(1,374,519,000)	402,535,000
Securities sold, but not yet purchased, at fair value	77,278,000	75,445,000
Accounts payable and accrued expenses	(3,530,000)	2,805,000
Accrued compensation	(9,071,000)	(40,445,000)
Drafts payable	318,000	(726,000)
Net cash provided by/(used in) operating activities	148,703,000	(31,639,000)
Cash flows from investing activities:
Payment to former stockholders of Gleacher Partners, Inc. (Refer to Note 26)	(4,373,000)
Purchase of investments	(800,000)	(1,367,000)
Purchases of office equipment and leasehold improvements	(447,000)	(1,916,000)
Return of capital - investments		2,967,000
ClearPoint acquisition - net cash acquired (Refer to Note 11)		626,000
Net cash (used in)/provided by investing activities	(5,620,000)	310,000
Cash flows from financing activities:
Proceeds from secured borrowings	1,170,547,000	731,676,000
Repayments of secured borrowings	(1,317,583,000)	(682,811,000)
Purchases of treasury stock	(1,151,000)	(10,333,000)
Payment for employee tax withholdings on stock-based compensation	(2,888,000)	(6,143,000)
Repayment of subordinated debt	(206,000)	(108,000)
Excess tax benefits related to stock-based compensation	8,000	238,000
Net cash (used in)/provided by financing activities	(151,273,000)	32,519,000
(Decrease)/increase in cash and cash equivalents	(8,190,000)	1,190,000
Cash and cash equivalents at beginning of the period	36,672,000	40,009,000
Cash and cash equivalents at the end of the period	28,482,000	41,199,000
NON CASH INVESTING AND FINANCING ACTIVITIES
Treasury stock, net of forfeitures, for stock-based compensation exercises and vesting (in shares)	5.8	0.6
Common stock for settlement of stock-based compensation awards (in shares)	0.1	2.3
Fair value of non-cash assets acquired in the ClearPoint Funding, Inc. acquisition (Refer to Note 11)		51,600,000
Fair value of liabilities assumed in the ClearPoint Funding, Inc. acquisition (Refer to Note 11)		$ 49,900,000