The Obama administration has agreed to give the insurance giant AIG an additional $30 billion as part of a revamped government bailout. This comes on top of the $150 billion in taxpayer money already doled out to the firm. The New York Times reports federal officials felt they had no choice but to prop up AIG, because its business and trading activities are so intricately woven through the world’s banking system. AIG is expected to report today a record $62 billion loss, the biggest quarterly loss in corporate history. The $30 billion bailout of AIG comes three days after the firm sued the US government over a disputed $300 million tax bill.