CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2015		Mar. 31, 2014
Cash flows from operating activities:
Net income (loss)	$ (476,499)		$ (203,351)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Amortization of Investment Securities premiums and discounts, net	284,777		118,988
Amortization of commercial real estate investment premiums and discounts, net	(160)		792
Amortization of intangibles	1,195		99
Amortization of deferred financing costs	2,914		2,813
Amortization of net origination fees and costs, net	(1,190)		(973)
Amortization of contingent beneficial conversion feature and equity component of Convertible Senior Notes	11,758		6,410
Depreciation expense	2,823		292
Net gain on sale of commercial real estate			(1,213)
Net (gains) losses on sales of Investment Securities	(62,356)		(80,718)
Stock compensation expense	39
Unrealized (gains) losses on interest rate swaps	466,202		348,942
Net unrealized (gains) losses on interest-only Agency mortgage-backed securities	33,546		20,793
Net (gains) losses on trading assets	6,906		146,228
Proceeds from repurchase agreements of RCap	386,000,000		329,649,937
Payments on repurchase agreements of RCap	(391,250,000)		(324,602,992)
Proceeds from reverse repurchase agreements	15,325,000		35,181,890
Payments on reverse repurchase agreements	(15,325,000)		(35,526,265)
Proceeds from securities borrowed			19,993,580
Payments on securities borrowed			(17,924,187)
Proceeds from securities loaned			37,178,735
Payments on securities loaned			(39,192,893)
Proceeds from U.S. Treasury securities			3,159,253
Payments on U.S. Treasury securities			(3,920,425)
Net payments on derivatives	(66,604)		(90,440)
Net change in:
Due to / from brokers			8,596
Other assets	(2,627)		3,439
Accrued interest and dividends receivable	28,886		(16,035)
Receivable for investment advisory income	134		341
Accrued interest payable	(25,425)		25,032
Accounts payable and other liabilities	3,709		13,801
Net cash provided by (used in) operating activities	(5,041,972)		4,300,469
Cash flows from investing activities:
Payments on purchases of Agency mortgage-backed securities and debentures	(5,065,764)		(9,367,034)
Proceeds from sales of Agency mortgage-backed securities and debentures	13,973,224		6,155,091
Principal payments on Agency mortgage-backed securities	2,596,964		1,675,575
Payments on purchases of corporate debt	(63,015)		(28,705)
Principal payments on corporate debt	1,733		1,051
Purchases of commercial real estate debt investments	(185,925)
Sales of commercial real estate debt investments	41,016
Purchase of securitized loans at fair value	(1,370,011)
Origination of commercial real estate investments, net	(61,502)		(125,949)
Proceeds from sales of commercial real estate held for sale			20,740
Principal payments on commercial real estate investments	82,408		69,795
Purchase of investments in real estate	(3,602)
Net cash provided by (used in) investing activities	9,945,526		(1,599,436)
Cash flows from financing activities:
Proceeds from repurchase agreements	57,776,249		49,726,537
Principal payments on repurchase agreements	(63,410,797)		(52,010,534)
Payments on maturity of convertible senior notes	(107,541)
Proceeds from other secured financing	90,000
Proceeds from issuance of securitized debt	1,267,914		260,700
Principal repayments on securitized debt	(37,680)
Payment of deferred financing cost	(641)		(4,288)
Net proceeds from direct purchases and dividend reinvestments	569		607
Principal payments on participation sold	(76)		(72)
Principal payments on mortgages payable	(69)
Distributions to noncontrolling interests	(115)
Dividends paid	(302,285)		(302,222)
Net cash provided by (used in) financing activities	(4,724,472)		(2,329,272)
Net (decrease) increase in cash and cash equivalents	179,082		371,761
Cash and cash equivalents, beginning of period	1,741,244	[1]	552,436
Cash and cash equivalents, end of period	1,920,326		924,197
Supplemental disclosure of cash flow information:
Interest received	815,765		769,627
Dividends received	4,048		13,045
Investment advisory income received	10,992		6,464
Interest paid (excluding interest paid on interest rate swaps)	124,673		118,131
Net interest paid on interest rate swaps	176,395		250,571
Taxes paid	643		2,137
Noncash investing activities:
Receivable for investments sold	2,009,937		19,116
Payable for investments purchased	5,205		1,898,507
Net change in unrealized gains (losses) on available-for-sale securities, net of reclassification adjustment	569,116		660,454
Noncash financing activities:
Dividends declared, not yet paid	284,310		284,247
Convertible Senior Notes 5.00 Percent Due 2015
Noncash financing activities:
Contingent beneficial conversion feature on 4% Convertible Senior Notes			$ 4,186

[1] Derived from the audited consolidated financial statements at December 31, 2014.