NEW YORK (CNNMoney) -- AIG reported a first quarter loss Thursday, moving the insurer back into the red after the bailout recipient showed signs of life with a strong final quarter to close out 2010.
AIG reported a loss from continuing operations of $1.41 per share for the first three months of the year, compared to a profit of $2.16 per share over the same period a year ago.
In 2008, the giant insurer struggled under the weight of credit default swaps issued by its Financial Products division before ending up on the receiving end of a $180 billion lifeline extended by the Feds.
AIG has returned a large chunk of that to the Treasury, raising money through asset sales. But Treasury still has $47.5 billion in cash invested in AIG through the insurer's common stock.
Due to a plunging stock price that has lost 46% of its value since the start of the year, that taxpayer investment is in danger of slipping into the red.
The midterm elections are around the corner, and the economy remains a top concern. With unemployment down and inflation low, why do people still feel the economy stinks? More
Shares of Facebook recently topped $80. They've more than quadrupled from their post-IPO lows of two years ago. Can Mark Zuckerberg keep the momentum in mobile going? More