Allied Irish Bank - John Rusnak - 2 options were very close - Inexperienced Manager/Inexp control ppl.
I chose 2nd because qstn asked wat led him to hide his fake Transactions. Inexperience of Manager will be too broad a reason in this context.
Managing tail risk: I remember the option as "POSITIVELY" correlated with tail risk and not Negatively .. did i read it wrong ? .. I chose 'Invest in US Treasury'
I felt that there's no such thing as negative correl to tail risk. Since tail risk cannot be diversified away, correlation does not matter. I answered the put (i might be mistaken tho this might have said call. If that's the case, im wrong) options as a hedge to tail risk.