Annual report pursuant to Section 13 and 15(d)

INCOME TAXES (Details Narrative)

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INCOME TAXES (Details Narrative) (USD $)
In Thousands, unless otherwise specified
12 Months Ended 24 Months Ended 12 Months Ended
Dec. 31, 2012
Dec. 31, 2010
Dec. 31, 2010
Dec. 31, 2011
Dec. 31, 2011
Restated
REIT distribution threshold for non-recognition for corporate income tax purposes 90.00%        
Net Income Distributed 100.00% 100.00%     100.00%
Face Value of repurchases of CDO debt,Other Notes Payable and junior subordinated notes $ 34,100   $ 787,800   $ 188,900
Tax Gain recognized on repurchase of debt 23,200   521,100   81,100
GAAP gain 24,100       66,100
Face value of debt repurchased related to GAAP portion 39,300       171,800
Cumulative debt cancelled in Subprime Securitization 61,700        
Loss Carryforward       $ 896,800