While I disagree with many of their policies especially those that shaped the kind of political system in Singapore which I believe will be a long term liability, they deserve the credit for leading Singapore from the 3rd World to the 1st. They couldn't have done it without the contributions of Singaporean workers who were ranked number 1 in the world for 2 decades during the period of our most rapid economic development.
The problem is after we acquired our developed country status, they became as clueless as anyone else in the PAP on how to move Singapore ahead. MM Lee published his "Hard Truths" book which tells us to drive this country forward using rear view mirrors. I can't remember anything of significance SM Goh did in the past 5 years except his conversation with Gaddafi after which he praised Gaddafi for being an astute leader[Link]. Other than the strange things SM Goh said during the 2006 and 2011 election campaigns - I can't remember anything else of significance he did in the last 5 years - he served as an envoy meeting leaders from other counrtries, an overlap with George Yeo's post as Foreign Minister.....feel free to comment on this and correct me.
Together with his apology, the resignation by MM & SM offered PM Lee one of the best opportunities to show that he can lead the change in Singapore. However, PM Lee instantly drop the ball saying he needed time to consider the resignation of these senior citizens. This is really strange. Is he be able to say "no"? Is he going to call them up over the weekend to persuade them to stay on to "mentor him"? He should have decisively accepted the resignation, thank them for their contributions and declare himself firmly in charge of this country.
Globalisation has unleashed forces that make our collective social goal for a prosperous and more equal society harder to attain. We need leadership that can break free from the past to chart new direction based on a deeper understanding what is happening to the Singapore society and economy to counteract the forces that will lead to poor outcomes for Singaporeans. The PAP came into power on the wings of socialist ideology and then dazzled the people with an economic transformation that harnessed capital and investment from capitalist states. We need leadership again tto navigate this tough uncertain world where the free market and unbridled capitalism is yielding results inconsistent with our collective social goals. If we can't get this leadership from the PAP, the electorate will start to seek alternatives in the next election.