CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Thousands, except Share data, unless otherwise specified	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
Cash flows from operating activities:
Net loss	$ (96,611)	$ (66,425)
Adjustments to reconcile net loss to net cash provided by operating activities:
Amortization of stock-based compensation	5,883	4,538
Impairment of fixed assets - restructuring	4,006
Impairment of goodwill and intangible assets	3,969	21,096
Depreciation of fixed assets and amortization of leasehold improvements	683	1,455
Clawback of stock-based compensation awards subject to non-competition provisions	(556)	(2,497)
Investment (gains)/losses, net	338	(156)
Amortization of intangible assets	196	371
Deferred income taxes		24,630
Changes in operating assets and liabilities:
Cash and securities segregated for regulatory and other purposes	7,000	5,612
Securities purchased under agreements to resell		1,390,619
Net receivable/payable from/to brokers, dealers and clearing organizations	(634,372)	(383,724)
Net receivable/payable from/to related parties	385	(4,397)
Net receivable from others	11,996	5,693
Financial instruments owned, at fair value	1,096,243	453,929
Income taxes receivable/payable, net	3,222	6,734
Other assets	4,554	749
Securities sold under agreements to repurchase	(159,386)	(1,374,519)
Securities sold, but not yet purchased, at fair value	(132,730)	77,278
Restructuring reserve (gross payments of $35.5 million; Refer to Note 20)	4,953
Accounts payable and accrued expenses	(5,158)	(3,530)
Accrued compensation	(31,196)	(9,071)
Drafts payable	1,058	318
Net cash provided by operating activities	84,477	148,703
Cash flows from investing activities:
Return of capital - Investments	3,202
Purchase of investments	(947)	(800)
ClearPoint sale - net payment to Homeward Residential, Inc.	(510)
Purchases of office equipment and leasehold improvements	(11)	(447)
Payment to former stockholders of Gleacher Partners, Inc. (Refer to Note 23)		(4,373)
Net cash provided by/(used in) investing activities	1,734	(5,620)
Cash flows from financing activities:
Proceeds from secured borrowings	185,381	1,170,547
Repayments of secured borrowings	(250,289)	(1,317,583)
Purchases of treasury stock		(1,151)
Payment for employee tax withholdings on stock-based compensation	(2,610)	(2,888)
Repayment of subordinated debt	(186)	(206)
Excess tax benefits related to stock-based compensation		8
Net cash used in financing activities	(67,704)	(151,273)
Increase/(decrease) in cash and cash equivalents	18,507	(8,190)
Cash and cash equivalents at beginning of the period	44,868	36,672
Cash and cash equivalents at the end of the period	$ 63,375	$ 28,482
NON CASH INVESTING AND FINANCING ACTIVITIES
Treasury stock, net of forfeitures, for stock-based compensation exercises and vesting (in shares)	55,000	290,000