Sir, – I welcome the fact that the former AIB chief executive has bowed to pressure and agreed to a pension reduction after Taoiseach Enda Kenny said the lender’s former managers had a “moral responsibility” to reduce their retirement payments over the failure of the bank (Front page, November 7th). However, I would welcome the Taoiseach’s clarification as to how he can justify extending that responsibility to the citizens of this State by making them carry the burden of repayment of the bondholders who provided the money to the failed banks in the first place. – Yours, etc,