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Note 3 - Derivative Instruments (Tables) | 9 Months Ended
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Sep. 30, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | The following table sets forth our derivative assets and liabilities as of the dates indicated. Certain contracts are in an asset position because the net present value of the contractual premium we receive exceeds the net present value of our estimate of the expected future premiums that a financial guarantor of similar credit quality to us would charge to provide the same credit protection, assuming a transfer of our obligation to such financial guarantor as of the measurement date.
(In thousands) | September 30, 2014 |  | December 31, 2013
Balance Sheets |  |  |
Derivative assets: |  |  |
Financial Guaranty credit derivative assets | $ | 6,102 |  |  | $ | 6,323 |
Other derivative assets | 18,111 |  |  | 10,319 |
Total derivative assets | 24,213 |  |  | 16,642 |
Derivative liabilities: |  |  |
Financial Guaranty credit derivative liabilities | 138,605 |  |  | 238,728 |
Financial Guaranty VIE derivative liabilities | 46,653 |  |  | 68,457 |
Total derivative liabilities | 185,258 |  |  | 307,185 |
Total derivative liabilities, net | $ | 161,045 |  |  | $ | 290,543 |
Derivative Instruments, Gain (Loss) [Table Text Block] | The components of the gains (losses) included in change in fair value of derivative instruments are as follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(In thousands) | 2014 |  | 2013 |  | 2014 |  | 2013
Statements of Operations |  |  |  |  |  |  |
Net premiums earned—derivatives | $ | 2,882 |  |  | $ | 4,170 |  |  | $ | 9,673 |  |  | $ | 14,019 |
Financial Guaranty credit derivatives | 8,979 |  |  | 9,198 |  |  | 97,521 |  |  | (86,233 | )
Financial Guaranty VIE derivatives | 4,982 |  |  | (4,026 | ) |  | 20,123 |  |  | 513 |
Other derivatives | 2,517 |  |  | 1,436 |  |  | (394 | ) |  | 1,344 |
Change in fair value of derivative instruments | $ | 19,360 |  |  | $ | 10,778 |  |  | $ | 126,923 |  |  | $ | (70,357 | )
Schedule of Derivative Instruments [Table Text Block] | The following table shows selected information about our derivative contracts:
($ in thousands) | September 30, 2014
Number of Contracts |  | Par/ Notional Exposure |  | Total Net Asset (Liability)
Product |  |  |  |  |
Corporate CDOs | 14 |  |  | $ | 6,060,500 |  |  | $ | (423 | )
Non-Corporate CDOs and other derivative transactions: |  |  |  |  |
TruPs | 9 |  |  | 816,257 |  |  | (18,378 | )
CDO of CMBS | 1 |  |  | 430,000 |  |  | (39,341 | )
Other: |  |  |  |  |
Structured finance | 3 |  |  | 436,865 |  |  | (39,728 | )
Public finance | 19 |  |  | 1,071,409 |  |  | (25,144 | )
Total Non-Corporate CDOs and other derivative transactions | 32 |  |  | 2,754,531 |  |  | (122,591 | )
Assumed financial guaranty credit derivatives: |  |  |  |  |
Structured finance | 21 |  |  | 128,112 |  |  | (9,185 | )
Public finance | 4 |  |  | 95,015 |  |  | (304 | )
Total Assumed | 25 |  |  | 223,127 |  |  | (9,489 | )
Financial Guaranty VIE derivative liabilities (1) | 1 |  |  | 79,473 |  |  | (46,653 | )
Other (2) | 3 |  |  | — |  |  | 18,111 |
Grand Total | 75 |  |  | $ | 9,117,631 |  |  | $ | (161,045 | )
________________
(1) | Represents the fair value of a CDS included in a VIE that we have consolidated.
(2) | Represents derivative assets related to other purchased derivatives for which we do not have loss exposure that exceeds our net asset amount.

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- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5618551-113959 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5624171-113959 + Details
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- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5624163-113959 + Details
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- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=35706170&loc=d3e41678-113959 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 25 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6886632&loc=d3e76258-113986 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=35706170&loc=d3e41620-113959 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5579245-113959 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5580258-113959 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5579240-113959 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=35706170&loc=d3e41641-113959 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=35706170&loc=d3e41638-113959 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5624171-113959 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5624163-113959 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(n)(2)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 + Details
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