CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2013	Mar. 31, 2012
Revenues:
Principal transactions	$ (6,999)	$ 8,499
Commissions	10,181	19,151
Investment banking	15,173	6,678
Investment gains/(losses), net	172	132
Interest income	8,966	16,761
Fees and other	964	514
Total revenues	28,457	51,735
Interest expense	1,607	2,769
Net revenues	26,850	48,966
Expenses (excluding interest):
Compensation and benefits	29,115	39,392
Professional fees	3,227	3,556
Communications and data processing	3,147	3,252
Occupancy, depreciation and amortization	1,908	1,916
Clearing, settlement and brokerage	1,009	1,570
Business development	753	918
Other	1,269	720
Total expenses (excluding interest)	40,428	51,324
Loss from continuing operations before income taxes and discontinued operations	(13,578)	(2,358)
Income tax expense	85	674
Loss from continuing operations	(13,663)	(3,032)
Loss from discontinued operations, net of taxes (Refer to Note 24)	(4,308)	(1,652)
Net loss	$ (17,971)	$ (4,684)
Basic loss per share
Continuing operations (in dollars per share)	$ (0.11)	$ (0.03)
Discontinued operations (in dollars per share)	$ (0.04)	$ (0.01)
Net loss per share (in dollars per share)	$ (0.15)	$ (0.04)
Diluted loss per share
Continuing operations (in dollars per share)	$ (0.11)	$ (0.03)
Discontinued operations (in dollars per share)	$ (0.04)	$ (0.01)
Net loss per share (in dollars per share)	$ (0.15)	$ (0.04)
Weighted average shares of common stock:
Basic (in shares)	119,510	119,510
Diluted (in shares)	119,510	119,510