Annual report pursuant to Section 13 and 15(d)

SEGMENT REPORTING AND VARIABLE INTEREST ENTITIES (Details Narrative)

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SEGMENT REPORTING AND VARIABLE INTEREST ENTITIES (Details Narrative) (USD $)
In Thousands, unless otherwise specified
 12 Months Ended 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2013
CDO V
VIE
Dec. 31, 2013
CDO VIII Repack
VIE
Dec. 31, 2011
Restated
Aggregate Face Amount of debt eliminated upon consolidation $ 133,900 $ 71,100      
Carrying Value of debt eliminated upon consolidation 87,500 62,500      
Decrease in gross assets in deconsolidation of CDO 1,100,000       301,600
Decrease in gross liabilities in deconsolidation of CDO 1,200,000       357,000
Gain on deconsolidation           45,072
Decrease in AOCI loss in deconsolidation of CDO 25,500       10,300
Gain on sale of CDO assets 224,300        
Debt Face Amount 3,213,490 2,786,059 39,800 116,800  
Carrying Value of Newcastle's Investment $ 2,002   $ 2,002 [1] $ 104,308 [1],[2]  
[1] This amount represents Newcastle's maximum exposure to loss from this entity.
[2] See Notes 13 and 14 for information about the securitization that is collateralized by certain Newcastle CDO VIII Class I Notes.