Goldman Sachs’ apology to the people of Malaysia comes too late in the day to save the colossal damage inflicted on the investment bank for its role in diverting funds due to the scandal-ridden 1Malaysia Development Bhd (1MDB).

While it is good that Goldman’s chief executive, David Soloman, acknowledges that the US-based investment bank had taken its eye off the deals that were structured by its senior employee Tim Leissner and his colleague Roger Ng, it should not be tantamount to the investment bank getting off the hook.