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INCOME TAXES (Details Narrative) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | 24 Months Ended | 12 Months Ended | ||
|---|---|---|---|---|---|
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Dec. 31, 2012
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Dec. 31, 2010
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Dec. 31, 2010
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Dec. 31, 2011
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Dec. 31, 2011
Restated
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| 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 | ||||
| X | ||||||||||
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- Definition
The cumulative amount of debt which has been cancelled in subprime securitizations due to losses incurred on underlying assets held in trust. No definition available.
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| X | ||||||||||
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- Definition
Amount before allocation of valuation allowances of deferred tax asset attributable to deductible operating and capital loss carryforwards. No definition available.
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| X | ||||||||||
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- Definition
The face value of repurchased CDO debt and junior subordinated notes for which the gain is GAAP gain. No definition available.
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| X | ||||||||||
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- Definition
The percentage of net income disbursed to shareholders during the period. No definition available.
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| X | ||||||||||
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- Definition
The threshold percentage of earnings which must be distributed to shareholders in order for the REIT to not be subject to US Federal Corporate Income Tax. No definition available.
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| X | ||||||||||
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- Definition
The face value of repurchased CDO debt, other notes payable and junior subordinated notes. No definition available.
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| X | ||||||||||
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- Definition
The taxable portion of the gain recognized on the repurchase of CDO debt and junior subordinated notes. No definition available.
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| X | ||||||||||
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- Definition
The tax gain recognized on the repurchase of CDO debt OtherNotesPayableand subordinated notes. No definition available.
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