Consolidated Statements of Operations (Unaudited) (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2012	Mar. 31, 2011
Interest and Dividend Income:
First mortgage loans	$ 342,725	$ 382,953
Consumer and other loans	3,383	4,148
Mortgage-backed securities held to maturity	37,809	61,216
Mortgage-backed securities available for sale	52,831	122,092
Investment securities held to maturity	1,733	32,827
Investment securities available for sale	1,253	775
Dividends on Federal Home Loan Bank of New York stock	8,489	12,801
Federal funds sold	568	711
Total interest and dividend income	448,791	617,523
Interest Expense:
Deposits	67,876	84,318
Borrowed funds	146,797	276,804
Total interest expense	214,673	361,122
Net interest income	234,118	256,401
Provision for Loan Losses	25,000	40,000
Net interest income after provision for loan losses	209,118	216,401
Non-Interest Income:
Service charges and other income	2,787	2,739
Gain on securities transactions, net		102,468
Total non-interest income	2,787	105,207
Non-Interest Expense:
Compensation and employee benefits	32,142	30,884
Net occupancy expense	8,657	8,425
Federal deposit insurance assessment	36,000	16,330
Loss on extinguishment of debt		1,172,092
Other expense	14,799	12,837
Total non-interest expense	91,598	1,240,568
Income (loss) before income tax expense (benefit)	120,307	(918,960)
Income Tax Expense (Benefit)	47,320	(363,296)
Net income (loss)	$ 72,987	$ (555,664)
Basic Earnings (Loss) Per Share	$ 0.15	$ (1.13)
Diluted Earnings (Loss) Per Share	$ 0.15	$ (1.13)
Weighted Average Number of Common Shares Outstanding:
Basic	495,983,174	493,843,304
Diluted	496,008,154	493,843,304