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Condensed Consolidated Statements of Cash Flows (unaudited) (USD $)
In Thousands, unless otherwise specified
 3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Cash flows from operating activities:    
Net profit (loss) for period $ (3,883) $ 5,761
Non-cash items included in net profit:    
Depreciation and amortization of office facilities and leasehold improvements 2,845 3,527
Deferred income taxes (6,666) 3,888
Amortization of notes receivable 4,870 5,087
Amortization of debt issuance costs 99 273
Amortization of intangible assets 3,212 1,082
Provision (reversal) for credit losses 178  
Share-based compensation 1,259 4,836
Decrease (increase) in operating assets:    
Cash and securities segregated for regulatory and other purposes (2,283) (2,062)
Deposits with clearing organizations (20,321) (3,259)
Receivable from brokers and clearing organizations (53,117) (43,528)
Receivable from customers (34,376) (49,841)
Income taxes receivable 4,016 1,497
Securities purchased under agreements to resell 847,199 145,570
Securities owned (21,883) (595,317)
Notes receivable (4,412) (2,532)
Other assets 72,769 12,686
Increase (decrease) in operating liabilities:    
Drafts payable (10,656) (18,619)
Payable to brokers and clearing organizations 38,458 158,904
Payable to customers 63,897 113,555
Securities sold under agreements to repurchase (860,700) 151,845
Securities sold, but not yet purchased 20,993 217,695
Accrued compensation (51,436) (76,647)
Accounts payable and other liabilities (30,965) 4,260
Cash provided by (used in) operating activities (40,903) 38,661
Cash flows from investing activities:    
Purchase of office facilities (4,711) (1,549)
Cash used in investing activities (4,711) (1,549)
Cash flows from financing activities:    
Cash dividends paid on Class A non-voting and Class B voting common stock (1,495) (1,500)
Issuance of Class A non-voting common stock   71
Repurchase of Class A non-voting common stock for cancellation (1,551)  
Tax benefit (shortfall) from share-based awards 41 (1,672)
Senior secured credit note repayments   (125)
Increase (decrease) in bank call loans, net 65,100 (33,800)
Cash provided by (used in) financing activities 62,095 (37,026)
Net increase (decrease) in cash and cash equivalents 16,481 86
Cash and cash equivalents, beginning of period 70,329 52,854
Cash and cash equivalents, end of period 86,810 52,940
Schedule of non-cash investing and financing activities:    
Employee share plan issuance 224 9,709
Supplemental disclosure of cash flow information:    
Cash paid during the period for interest 4,038 11,232
Cash paid (refunded) during the year for income taxes $ (20) $ 526