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Open market operation
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An open market operation (OMO) is an activity by a central bank to give (or take) liquidity in its currency to (or from) a bank or a group of banks. The central bank can either buy or sell government bonds in the open market (this is where the name was historically derived from) or, in what is now mostly the preferred solution, enter into a repo or secured lending transaction with a commercial bank: the central bank gives the money as a deposit for a defined period and synchronously takes an eligible asset as collateral. A central bank uses OMO as the primary means of implementing monetary policy. The usual aim of open market operations is - aside from supplying commercial banks with liquidity and sometimes taking surplus liquidity from commercial banks - to manipulate the short-term interest rate and the supply of base money in an economy, and thus indirectly control the total money supply, in effect expanding money or contracting the money supply. This involves meeting the demand of base money at the target interest rate by buying and selling government securities, or other financial instruments. Monetary targets, such as inflation, interest rates, or exchange rates, are used to guide this implementation.[1][2]
Contents
[hide]
1 Process of open market operations
2 Theoretical relationship to interest rates
3 Possible targets
4 How open market operations are conducted
4.1 United States
4.2 Eurozone
4.3 Switzerland
4.4 India
5 See also
6 References
7 External links
Process of open market operations[edit]
The central bank maintains loro accounts for a group of commercial banks, the so-called direct payment banks. A balance on such a loro account (it is a nostro account in the view of the commercial bank) represents central bank money in the regarded currency. Since central bank money currently exists mainly in the form of electronic records (electronic money) rather than in the form of paper or coins (physical money), open market operations can be conducted by simply increasing or decreasing (crediting or debiting) the amount of electronic money that a bank has in its reserve account at the central bank. This does not require the creation of new physical currency, unless a direct payment bank demands to exchange a part of its electronic money against banknotes or coins.
In most developed countries, central banks are not allowed to give loans without requiring suitable assets as collateral. Therefore, most central banks describe which assets are eligible for open market transactions. Technically, the central bank makes the loan and synchronously takes an equivalent amount of an eligible asset supplied by the borrowing commercial bank.
Theoretical relationship to interest rates[edit]
Classical economic theory postulates a distinctive relationship between the supply of central bank money and short-term interest rates: like for a commodity, a higher demand for central bank money would increase its price, the interest rate. When there is an increased demand for base money, the central bank must act if it wishes to maintain the short-term interest rate. It does this by increasing the supply of base money: it goes to the open market to buy a financial asset, such as government bonds. To pay for these assets, new central bank money is generated in the seller's loro account, increasing the total amount of base money in the economy. Conversely, if the central bank sells these assets in the open market, the base money is reduced.
Technically, the process works because the central bank has the authority to bring money in and out of existence. It is the only point in the whole system with the unlimited ability to produce money. Another organization may be able to influence the open market for a period of time, but the central bank will always be able to overpower their influence with an infinite supply of money.[3]
Side note: Countries that have a free floating currency not pegged to any commodity or other currency have a similar capacity to produce an unlimited amount of net financial assets (bonds), understandably, governments would like to utilize this capacity to meet other political ends like unemployment rate targeting, or relative size of various public services (military, education, health etc.), rather than any specific interest rate. Mostly, however the central bank is prevented by law or convention from giving way to such demands, being required to only generate central bank money in exchange for eligible assets (see above).
Possible targets[edit]
Under inflation targeting, open market operations target a specific short-term interest rate in the debt markets. This target is changed periodically to achieve and maintain an inflation rate within a target range. However, other variants of monetary policy also often target interest rates: the US Federal Reserve, the Bank of England and the European Central Bank use variations on interest rate targets to guide open market operations.
Besides interest rate targeting there are other possible targets of open markets operations. A second possible target is the contraction of the money supply, as was the case in the U.S. in the late 1970s through the early 1980s under Fed Chairman Paul Volcker.
Under a currency board open market operations would be used to achieve and maintain a fixed exchange rate with relation to some foreign currency.
Under a gold standard, notes would be convertible to gold, and so open market operations could be used to keep the value of a fiat currency constant relative to gold.
A central bank can also use a mixture of policy settings that change depending on circumstances. A central bank may peg its exchange rate (like a currency board) with different levels or forms of commitment. The looser the exchange rate peg, the more latitude the central bank has to target other variables (such as interest rates). It may instead target a basket of foreign currencies rather than a single currency. In some instances it is empowered to use additional means other than open market operations, such as changes in reserve requirements or capital controls, to achieve monetary outcomes.
How open market operations are conducted[edit]
United States[edit]
Further information: Monetary policy of the United States
In the United States, as of 2006[citation needed], the Federal Reserve sets an interest rate target for the Federal funds (overnight bank reserves) market. When the actual Federal funds rate is higher than the target, the New York Reserve Bank will usually increase the money supply via a repo (effectively borrowing from the dealers' perspective; lending for the Reserve Bank). When the actual Federal funds rate is less than the target, the Bank will usually decrease the money supply via a reverse repo (effectively lending from the dealers' perspective; borrowing for the Reserve Bank).
In the U.S., the Federal Reserve most commonly uses overnight repurchase agreements (repos) to temporarily create money, or reverse repos to temporarily destroy money, which offset temporary changes in the level of bank reserves.[4] The Federal Reserve also makes outright purchases and sales of securities through the System Open Market Account (SOMA) with its manager over the Trading Desk at the New York Reserve Bank. The trade of securities in the SOMA changes the balance of bank reserves, which also affects short-term interest rates. The SOMA manager is responsible for trades that result in a short-term interest rate near the target rate set by the Federal Open Market Committee (FOMC), or create money by the outright purchase of securities.[5] More rarely will it permanently destroy money by the outright sale of securities. These trades are made with a group of about 22 banks and bond dealers called primary dealers.
Money is created or destroyed by changing the reserve account of the bank with the Federal Reserve. The Federal Reserve has conducted open market operations in this manner since the 1920s, through the Open Market Desk at the Federal Reserve Bank of New York, under the direction of the Federal Open Market Committee. The open market operation is also a means through which inflation can be controlled because when treasury bills are sold to commercial banks these banks can no longer give out loans to the public for the period and therefore money is being reduced from circulation.
Eurozone[edit]
The European Central Bank has similar mechanisms for their operations; it describes its methods as a four-tiered approach with different goals: beside its main goal of steering and smoothing Eurozone interest rates while managing the liquidity situation in the market the ECB also has the aim of signalling the stance of monetary policy with its operations.
Broadly speaking, the ECB controls liquidity in the banking system via Refinancing Operations, which are basically repurchase agreements,[6] i.e. banks put up acceptable collateral with the ECB and receive a cash loan in return. These are the following main categories of refinancing operations that can be employed depending on the desired outcome:
The regular weekly main refinancing operations (MRO) with maturity of one week and,
The monthly longer-term refinancing operations (LTRO) provide liquidity to the financial sector, while ad hoc
"Fine-tuning operations" (in the form of reverse or outright transactions, foreign exchange swaps and the collection of fixed-term deposits) aim to smooth interest rates caused by liquidity fluctuations in the market and
"Structural operations" are used to adjust the central banks' longer-term structural positions vis-a-vis the financial sector.
Refinancing operations are conducted via an auction mechanism. The ECB specifies the amount of liquidity it wishes to auction (called the allotted amount) and asks banks for expressions of interest. In a fixed rate tender the ECB also specifies the interest rate at which it is willing to lend money; alternatively, in a variable rate tender the interest rate is not specified and banks bid against each other (subject to a minimum bid rate specified by the ECB) to access the available liquidity.
MRO auctions are held on Mondays, with settlement (i.e. disbursal of the funds) occurring the following Wednesday. For example, at its auction on 6 October 2008, the ECB made available 250 million in EUR on 8 October at a minimum rate of 4.25%. It received 271 million in bids, and the allotted amount (250) was awarded at an average weighted rate of 4.99%.
Since mid-October 2008, however, the ECB has been following a different procedure on a temporary basis, the fixed rate MRO with full allottment. In this case the ECB specifies the rate but not the amount of credit made available, and banks can request as much as they wish (subject as always to being able to provide sufficient collateral). This procedure was made necessary by the financial crisis of 2008 and is expected to end at some time in the future.
Though the ECB's main refinancing operations (MRO) are from repo auctions with a (bi)weekly maturity and monthly maturation, Longer-Term Refinancing Operations (LTROs) are also issued, which traditionally mature after three months; since 2008, tenders are now offered for six months, 12 months and 36 months.[7]
Switzerland[edit]
The Swiss National Bank currently targets the 3-month Swiss franc LIBOR rate. The primary way the SNB influences the 3-month Swiss franc LIBOR rate is through open market operations, with the most important monetary policy instrument being repo transactions.[8]
India[edit]
India’s Open Market Operation is much influenced by the fact that it is a developing country and that the capital flows are very different from those in developed countries. Thus Reserve Bank of India (India's central bank) has to make policies and use instruments accordingly. Prior to the 1991 financial reforms, RBI’s major source of funding and control over credit and interest rates was the CRR (Cash reserve ratio) and the SLR (Statutory Liquidity Ratio). But after the reforms, the use of CRR as an effective tool was de-emphasized and the use of open market operations increased. OMO’s are more effective in adjusting [market liquidity].
The two traditional type of OMO’s used by RBI:
Outright purchase (PEMO): Is outright buying or selling of government securities. (Permanent).
Repurchase agreement (REPO): Is short term, and are subject to repurchase.[9]
However, even after sidelining CRR as an instrument, there was still less liquidity and skewedness in the market. And thus, on the recommendations of the Narsimham Committee Report (1998), The RBI brought together a Liquidity Adjustment Facility (LAF). It commenced in June, 2000, and it was set up to oversee liquidity on a daily basis and to monitor market interest rates. For the LAF, two rates are set by the RBI: repo rate and reverse repo rate. The repo rate is applicable while selling securities to RBI (daily injection of liquidity), while the reverse repo rate is applicable when banks buy back those securities (daily absorption of liquidity). Also, these interest rates fixed by the RBI also help in determining other market interest rates.[10]
India experiences large capital inflows every day, and even though the OMO and the LAF policies were able to withhold the inflows, another instrument was needed to keep the liquidity intact. Thus, on the recommendations of the Working Group of RBI on instruments of Sterilization (December, 2003), a new scheme known as the Market stabilization scheme (MSS) was set up. The LAF and the OMO’s were dealing with day-to-day liquidity management, whereas the MSS was set up to sterilize the liquidity absorption and make it more enduring.[11]
According to this scheme, the RBI issues additional T-bills and securities to absorb the liquidity. And the money goes into the Market Stabilization scheme Account (MSSA). The RBI cannot use this account for paying any interest or discounts and cannot credit any premiums to this account. The Government, in collaboration with the RBI, fixes a ceiling amount on the issue of these instruments.[12]
But for an open market operation instrument to be effective, there has to be an active securities market for RBI to make any kind of effect on the liquidity and rates of interest.
See also[edit]
Fiat currency
Fractional Reserve Banking
Interest rate
List of economics topics
List of finance topics
Modern Monetary Theory
Monetarism
Money creation
Quantitative easing
OMOs a tool for Inflation and Interest rate targeting
References[edit]
Jump up ^ Open market operations: A Glossary of Political Economy Terms - Dr. Paul M. Johnson
Jump up ^ Open Market Operations - William F. Hummel
Jump up ^ Jeff (2013-09-17). "Federal Reserve: How and Why Do They Change Interest Rates?". Trader Brains Blog. www.radbrains.com. Retrieved 2013-10-08.
Jump up ^ Repurchase and Reverse Repurchase Transactions - Fedpoints - Federal Reserve Bank of New York
Jump up ^ Open Market Operation - Fedpoints - Federal Reserve Bank of New York
Jump up ^ "European Central Bank". FXPedia. Retrieved 2011-09-19.
Jump up ^ "ECB offers longer-term finance via six-month LTROs". May 2008.
Jump up ^ "Monetary policy instruments (situation in 2009)". Swiss National Bank. Retrieved 1 March 2011.
Jump up ^ "Central Banks Guide".
Jump up ^ Economics by Paul Anthony Samuelson.
Jump up ^ "The Hindu: Features Of stabilization scheme".
Jump up ^ "Implementation Of Monetary Policy".
External links[edit]
Understanding Open market operation by M. A. Akhtar
Federal Reserve System OMC
European Central Bank OMC
Federal Reserve Bank of New York: Open Market Operations
CRR, SLR and the Repo Rate - Monetary Policy tools in India
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Devil (Shinedown song)
From Wikipedia, the free encyclopedia
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"Devil"
Single by Shinedown
from the album Attention Attention
Released
March 7, 2018 (2018-03-07)
Format
Download
Recorded
2017–2018
Length
3:27[1]
Label
Atlantic
Songwriter(s)
Brent Smith
Eric Bass
Producer(s)
Eric Bass
Shinedown singles chronology
"How Did You Love"
(2016) "Devil"
(2018) "Get Up"
(2018)
"How Did You Love"
(2016) "Devil"
(2018) "Get Up"
(2018)
Music video
"Devil" on YouTube
"Devil" is a song by American rock band Shinedown. It was their first single off of their sixth studio album Attention Attention. It reached number one on the US Billboard Mainstream Rock Songs chart in May 2018.
Contents
1 Background
2 Themes and composition
3 Personnel
4 Charts
5 References
Background[edit]
The song was first released on March 7, 2018, as the first single from the band's sixth studio album, Attention Attention.[2][3] An accompanying music video was released on the same day,[4] also including the intro track "The Entrance" at the beginning of the video. The video was directed by Bill Yukich, who had previously directed the videos for Beyonce's Lemonade videos for HBO.[5]
Themes and composition[edit]
Lyrically, the song has been described by Alternative Press as "a deep dive into the heart of fear".[6] Attention Attention is a concept album that details a persons progression, from being in a dark, negative space, to working through their issues and eventually progressing into be a new more positive person; "Devil" is the second track from the album, and the first fully formed song after the intro track, placing it in the more negativity-themed side of the album.[5] Frontman Brent Smith outlined the meaning of the song:
'Devil' is about being afraid, 'Devil' is about being terrified of not only yourself, in some respects, but the world around you, and understanding that there are so many things and so many different situations and people and places and atmospheres and exposure that human beings are put in front of on a daily basis, [and] the world can be a really difficult place to navigate. So that's where the story starts.[5]
Musically, Loudwire described the song as having a dense, wall of sound quality to it, describing it as having a "sliding guitar lick and off kilter beat"...backing choirs.. layers of synth, piano and guitar textures."[7]
Personnel[edit]
Band
Brent Smith – vocals
Zach Myers – guitar
Eric Bass – bass
Barry Kerch – drums
Charts[edit]
Chart (2018)
Peak
position
US Bubbling Under Hot 100 Singles (Billboard)[8]
21
US Mainstream Rock (Billboard)[9]
1
References[edit]
Jump up ^ "ATTENTION ATTENTION by Shinedown on Apple Music". iTunes Store (US). Retrieved March 9, 2018.
Jump up ^ "Watch the video for Devil, the new single from Shinedown". 7 March 2018.
Jump up ^ "Shinedown Have Released A New Single And Video, Devil — Kerrang!". Kerrang!.
Jump up ^ "SHINEDOWN To Release 'Attention Attention' Album In May; 'Devil' Video Available". 7 March 2018.
^ Jump up to: a b c "Shinedown Announces New Album 'ATTENTION ATTENTION,' Releases Single 'DEVIL': Video Premiere". Billboard.
Jump up ^ "Hear Shinedown's strident new song "Devil" from their upcoming album - News - Alternative Press". Alternative Press.
Jump up ^ "Shinedown Warn of the 'Devil' in New 'Attention Attention' Song". Loudwire.
Jump up ^ "Shinedown Chart History (Bubbling Under Hot 100)". Billboard. Retrieved March 20, 2018.
Jump up ^ "Shinedown Chart History (Mainstream Rock)". Billboard. Retrieved May 30, 2018.
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Retrieved from "https://en.wikipedia.org/w/index.php?title=Devil_(Shinedown_song)&oldid=855729498"
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New Jersey Plan
From Wikipedia, the free encyclopedia
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This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. (October 2007) (Learn how and when to remove this template message)
The New Jersey Plan (also known as the Small State Plan or the Paterson Plan) was a proposal for the structure of the United States Government presented by William Paterson at the Constitutional Convention on June 15, 1787.[1] The plan was created in response to the Virginia Plan, which called for two houses of Congress, both elected with apportionment according to population.[2] The less populous states were adamantly opposed to giving most of the control of the national government to the more populous states, and so proposed an alternative plan that would have kept the one-vote-per-state representation under one legislative body from the Articles of Confederation. The New Jersey Plan was opposed by James Madison and Edmund Randolph (the proponents of the Virginia state Plan).
Contents
1 Proposals
2 Consideration
3 References
4 External links
Proposals[edit]
Under the New Jersey Plan, the unicameral legislature with one vote per state was inherited from the Articles of Confederation. This position reflected the belief that the states were independent entities and, as they entered the United States of America freely and individually, remained so.
The plan proposed the following:
The Articles of Confederation should be amended.
In addition to the existing powers under all of the Articles of Confederation, Congress gained authority to raise funds via tariffs and other measures, and to regulate interstate commerce and commerce with other nations. Cases involving these powers would still be heard by state courts unless appealed to the federal judiciary.
Congress has the authority to collect taxes from states based on the number of free inhabitants and 3/5ths of slaves in that state. However, this power requires the consent of some proportion of the states.
Congress elects a federal executive, consisting of multiple people, who cannot be re-elected and can be recalled by Congress when requested by the majority of executives of the states.
The federal judiciary is represented by a Supreme Tribunal, appointed by the federal executive, which has authority in federal impeachment cases and as the appeal of last resort in cases dealing with national matters (such as treaties).
The Articles of Confederation and treaties are the supreme law of the land, an early representation in the debates of the Supremacy Clause.[3][4] The federal executive is authorized to use force to compel non-compliant states to observe the law.
A policy of admission of new states should be established.
A singular policy for naturalization should be established.
A citizen of one state can be prosecuted under the laws of another state in which the crime was committed.
Variations also proposed that state governments must be bound by oath to support the Articles, that a policy should be established to handle territorial disputes,[5] and that the offenses deemed as treason should be defined.[6]
The New Jersey Plan
Consideration[edit]
Ultimately, the New Jersey Plan was rejected as a basis for a new constitution. The Virginia Plan was used, but some ideas from the New Jersey Plan were added. Perhaps the most important of these was introduced by the Connecticut Compromise, which established a bicameral legislature with the U.S. House of Representatives apportioned by population, as desired by the Virginia Plan, and the Senate granted equal votes per state, as desired by the New Jersey Plan.
References[edit]
Jump up ^ "The Debates in the Federal Convention of 1787 reported by James Madison : on June 15". The Avalon Project at Yale Law School. Archived from the original on 2017-01-23. Retrieved 2017-08-20.
Jump up ^ William Paterson Biography in Soldier Statesmen of the Constitution, a publication of the United States Army Center of Military History. Accessed October 23, 2007. "He was the co-author of the New Jersey (or Paterson) Plan that asserted the rights of the small states by proposing a national legislature that, ignoring differences in size and population, gave equal voice to all the states. The proposal countered the Virginia Plan introduced by Edmund Randolph, which granted special recognition to differences in population and, therefore, favored the large states."
Jump up ^ The Supremacy Clause: A Reference Guide to the United States Constitution
Jump up ^ The Authority for Federalism: Madison's Negative and the Origins of Federal Ideology
Jump up ^ "Variant Texts of the Plan Presented by William Patterson - Text B". The Avalon Project.
Jump up ^ "Variant Texts of the Plan Presented by William Patterson - Text C". The Avalon Project.
External links[edit]
Variant texts of the New Jersey Plan at the Avalon Project
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Lynette Scavo
From Wikipedia, the free encyclopedia
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This article consists almost entirely of a plot summary. It should be expanded to provide more balanced coverage that includes real-world context. Please edit the article to focus on discussing the work rather than merely reiterating the plot. (January 2013) (Learn how and when to remove this template message)
Lynette Scavo
Desperate Housewives character
Portrayed by
Felicity Huffman
Duration
2004–12
First appearance
"Pilot"
1x01, October 3, 2004
Last appearance
"Finishing the Hat"
8x23, May 13, 2012
Created by
Marc Cherry
Spin-off
appearances
Desperate Housewives: The Game (2006)
Profile
Other names
Lynette Lindquist (maiden name)
Lynnie (by her mother)
Occupation
CEO[1]
Former
Interior Designer
Vice President of Advertising
Restaurant Manager
Residence
Upper East Side, New York, New York[1]
Former
4355 Wisteria Lane
Fairview, Eagle State
Chicago, Illinois (before Season 1)
showFamily
Parents
Stella Lindquist
Siblings
Lucy Lindquist
Lydia Lindquist
Spouse
Tom Scavo
Children
Porter Scavo
Preston Scavo
Parker Scavo
Penny Lynn Scavo
Paige Scavo
Patrick Scavo (miscarriage)
Stepchildren
Kayla Scavo
Grandchildren
Sophie Mayer-Scavo (via Porter with Julie)
Six other grandchildren[1]
Other relatives
Polly (aunt)
Lynette Scavo (née Lindquist) is a fictional character and one of the four protagonists on the series Desperate Housewives. The character is played by actress Felicity Huffman, who won the Emmy Award for Outstanding Lead Actress in a Comedy Series for the role in 2005, and was nominated for Golden Globe Award for Best Actress – Television Series Musical or Comedy for 2005 to 2007.
While show creator Marc Cherry based Bree Van de Kamp's family on his teenage years, he based Lynette's on his childhood life.[2] Other actresses who claim to have auditioned for the show include Alex Kingston, who was apparently turned down for being too curvy.[3]
Contents
1 History
1.1 Past
1.2 Season 1
1.3 Season 2
1.4 Season 3
1.5 Season 4
1.5.1 Five-year jump
1.6 Season 5
1.7 Season 6
1.8 Season 7
1.9 Season 8
2 References
History[edit]
Past[edit]
Lynette Marie Lindquist was the eldest of three daughters born to Stella Lindquist and her first husband. After their father's death, their mother had a series of unpleasant and unstable boyfriends, but finally married Glenn Wingfield, whom Lynette adored. After a short time, Glenn left, and Lynette blamed her mother for driving him away for a long time. Stella finally remarries in season seven but is widowed about a week after their wedding.
She graduated from Northwestern University. In season one, it is learned that she met Tom when they worked together in Advertising. They married and moved to Wisteria Lane. Lynette has six children with Tom, with the last pregnancy there was a difficulty and one of the twins had died and not to mention the love child Tom had with a one-night stand twelve years before he met Lynette, which resulted to Tom having a child with Nora Huntington. After Nora's death, Kayla moved in full-time from season three to the end of season four. Lynette is always willing to do what is best for her family.
Season 1[edit]
As the series begins, Lynette is near to breaking point - stuck at home alone with four kids. Her husband is always away on business trips or at work. Lynette struggled to cope with her four children until Preston and Porter were prescribed medication for ADHD (attention-deficit hyperactivity disorder). Lynette decided not to medicate them and started taking the medication herself so she could make the costumes for a school play. Realising she was addicted, Lynette managed to stop taking the pills after she and Tom hired a nanny. Unfortunately the nanny didn't stay long as she caught Tom's eye a little too much. Her problems got worse when Tom told her that he was offered a lucrative promotion that would take him away from home more often, which he refused to discuss with her, so she made sure that his boss didn't offer him the promotion. When Tom found out what Lynette had done, he quit his job, and in the season finale informs her that she will be going back to work. Lynette also has trouble with Tom's ex-girlfriend, Annabel Foster. So, she talks to an executive of her old firm, and Tom's firm, to hire his ex as the VP of the firm, which she willingly does. When Tom finds out what Lynette had done, he forgives her, and decides to be a stay-at-home dad, where she has to go back to work, and earn the money.
Season 2[edit]
Lynette got a job at an advertising agency and for much of the season, deals with obstacles at work and colleagues. Stu, a bumbling secretary at the agency, is kind to Lynette, often doing her favors or helping her in tough situations. Nina is the boss from hell; bitchy, self-centered and neurotic. She causes Lynette many problems and stresses her out with work. Ed, the boss, is the seemingly cool guy but his faults lead to Tom being fired after working with her at the agency for a while. Lynette also testifies for Bree when she is accused of child abuse but makes Bree realise she has a problem with alcohol. At the end of the season, Lynette thinks Tom is cheating on her but discovers Tom has another child - resulting from a one-night stand before he met Lynette - a daughter, Kayla Huntington. She and her mother, Nora Huntington, use the back child support from Tom to move to Fairview so Kayla can get to know her father, stepmother and half-siblings.
Season 3[edit]
Lynette has trouble adjusting to Nora and Kayla being around but does her best. Lynette learns Nora wants Tom back and warns her to keep her distance. When Nora decides to leave town with Kayla in tow, Lynette and Tom sue for custody. However, a court date becomes unnecessary when Nora and Lynette are held hostage in a supermarket by Carolyn Bigsby, Nora is shot and killed during the standoff. As Nora lays dying, Lynette pledges to always care for Kayla. Lynette is shot in the arm, but survives. Lynette and Kayla struggle to get on as Kayla blames Lynette for her mother's death. When an out-of-work Tom follows his lifelong dream to open a pizzeria, Lynette attempts to support him. When a back injury leaves Tom bedridden and Lynette solely responsible for the operation of the restaurant, Lynette hires a manager, Rick, for whom she quickly develops romantic feelings. Tom, jealous and suspicious, demands that Rick leave the business but Rick refuses. When he confesses to Lynette that he is attracted to her, she fires him, establishing firmly that her family matters more than her business. Following a nasty fall out of bed, Lynette undergoes a CAT scan which reveals swollen lymph nodes. In the season finale, Lynette tells her sister Lucy that she has been diagnosed with Hodgkin's lymphoma and asks her for a loan. Lucy is sympathetic but unable to help as her husband has just lost his job. Tom borrows the money from Lynette's mother, Stella Wingfield, much to his wife's chagrin. Stella tells Lynette that she is moving in to help with the family while Lynette fights cancer.
Season 4[edit]
While undergoing chemotherapy, Lynette wears wigs to conceal her illness and avoid the pity of friends and neighbors. When she finally confesses, her friends are shocked but supportive. In a fit of pique at being served marijuana-laced brownies, Lynette decides that Stella has to go. While she soon changes her mind and asks her mother to stay, Stella is hurt and leaves the Scavo home. When Lynette learns that Glenn left Stella because he is gay, she tells her mother that she appreciates the time they've spent together. Stella, not wanting to ruin the happy memories, decides not to return and moves in with Glenn. A short time later, a tornado threatens Fairview and Lynette persuades her elderly neighbor, Karen McCluskey, to let the Scavos shelter in her cellar. Ida Greenberg and her cat join them but Tom, allergic to cats, starts struggling to breathe. Lynette attempts to sneak the cat out of the shelter, and Karen follows her into the storm. As the tornado hits, Karen and Lynette are forced to shelter in a bathtub in the Scavo house. After the tornado, Lynette and Karen find the McCluskey house in ruins. Lynette's family is safe, but only because Ida Greenberg died to save them. Kayla begins a pattern of disrespectful behavior, which culminates when Lynette slaps her for threatening Penny. Kayla takes revenge by burning herself with a curling iron and blaming Lynette, who is arrested. While in jail, Lynette tells Tom what Kayla did. When Kayla confesses that she lied, Tom sends her to live with her grandparents. He is sad to send her away, but in time the family (and Tom and Lynette's marriage) recovers from the strain placed upon it by Kayla.
Five-year jump[edit]
Lynette and Tom are still running the pizzeria, Preston, Porter, and Parker are teenagers and Penny is nine. Lynette's hair is back and Kayla is gone and not mentioned at all.
Season 5[edit]
After the five-year time jump, Tom and Lynette are still running the pizzeria and having trouble with their twin sons, now teenagers. Tom is having a mid-life crisis - he often sides with his disobedient sons, and he starts a band with the other neighborhood husbands, all to the irritation of his wife.
Lynette and Tom discover that Porter is having an affair with Anne Shilling, an older married woman. Anne tells Porter that she is having his baby and they make plans to run away together. When Lynette confronts Anne about her affair with Porter, they are overheard by Anne's abusive husband Warren. When Lynette later finds Warren beating Anne severely, Warren jeeringly dares the women to phone the police, because Anne is guilty of statutory rape. That evening, when Tom's band plays a gig at Warren's nightclub, Porter and Warren fight but Lynette intervenes again. She confronts Warren about hitting women and children. Warren locks the doors, and when Dave Williams sets fire to the club, it causes a panic. The club patrons escape through a window, but Warren blames Porter for the fire. Porter is arrested and released on bail. Lynette pays Anne to leave town without Warren, and asks to be notified when the baby is born. Anne admits that there is no baby. After Warren threatens his life, Porter jumps bail and leaves town. Tom and Lynette get Preston to pose as Porter in court. When he is discovered hiding at his grandmother's nursing home, Porter returns and the charges are dropped. Unfortunately, legal bills and the payoff to Anne have left the Scavos broke and Tom is forced to sell the pizzeria.
Lynette returns to the workforce, working for Carlos Solis. In the finale, Lynette starts feeling ill and fears her cancer is active, although she is pregnant with another set of twins.
Season 6[edit]
In her first trimester, Lynette is depressed about the prospect of having twins so late in life and fears she will not love them. She hides the pregnancy from her boss, Carlos, so as not to jeopardize her promotion. Gabrielle soon discovers the truth, and is angry with Lynette for putting the future of Carlos' company at stake. She does not tell Carlos, although Lynette thought she would, so reveals her secret to him without knowledge. He tells her that her options are to move to Miami or to quit. He then gives her a huge amount of work to do in one night, but when Lynette attends her daughter's Christmas pageant instead, Carlos subsequently fires her. Lynette and Gaby's friendship becomes strained, but is restored when Lynette saves Celia Solis from being hit by a plane that crashes on Wisteria Lane. Following the crash, Lynette is in pain and realizes something is wrong with the babies. Her doctor discovers one of the twins needs circulatory surgery. While unconscious, Lynette dreams of the struggle of life with a disabled child. The dream ends with her disabled son's graduation, where he thanks her for always challenging him. When she awakens, Tom tells her that the ill baby died but the other survived. Despite her early reluctance to have these twins at all, Lynette sobs for her lost baby. She has trouble processing her grief until Tom suggests that she stay home with their daughter after she is born.
Later in the season, Preston returns from Europe with a Russian woman named Irina. Lynette investigates and learns that Irina is a gold digger and prostitute, but Irina is killed by the Fairview Strangler. She invites the troubled teen Eddie to live with her family, unaware that he is the Fairview Strangler. Eddie becomes protective of Lynette, attacking Porter and nearly attacking Tom when each of them treats her in a way Eddie regards as disrespectful. Tom and Lynette agree that Eddie must see a therapist. The therapist suggests that Eddie's progress would improve if his mother accompanied him to therapy. However, no one answers the door at Eddie's house even though his mother's car is still there, and Lynette's suspicions are raised. When she learns that both Irina and Eddie's mother have been found dead, she confronts Eddie at his house and he traps her inside. With her life at Eddie's mercy, Lynette goes into labor. She gives birth to her daughter, Paige, with Eddie's help. Eddie attempts to flee, but Lynette begs him to turn himself in, telling him that she would be proud to have a son like him. Eddie asks Lynette to do it for him. Lynette agrees, letting him hold the baby while she dials 911.
Season 7[edit]
While raising their new baby daughter Paige, Tom is diagnosed with male postpartum depression. She invites her old college roommate, Renee, to stay when she learns of her on-going divorce. But she is astonished that Renee is taking Tom's diagnosis seriously. Renee (who is still staying in the Scavo home) warns Lynette that she should take Tom’s concerns more seriously, but Lynette ignores this. Lynette is especially angered when she learns that Tom has been confiding in Renee, listening to his problems when Lynette will not. One evening, Lynette learns that the two have gone to dinner but left a message for her to join them if she wishes. Angry, Lynette meets the two at a restaurant just as they are discussing Lynette’s dismissive behavior towards Tom. Lynette pulls Renee aside and tells her that it is inappropriate to be so close to Tom and demands that their current friendship be toned down. That night, Lynette realizes she needs to be there for her husband more often and the two decide to simply talk to each other rather than make love, thus making progress in their marriage. Renee later apologizes to Lynette and is forgiven, and reveals that she has just bought Edie Britt’s former home on Wisteria Lane. Lynette is hesitant to the idea, but happy nonetheless. In private, Tom warns Renee that it may be a bad idea for her to be their neighbor because he is afraid Lynette may find out about “something that happened” between him and Renee years earlier.
Lynette and Renee start a new business in interior design, after a little persuasion from Renee. Renee suggests hiring Susan as Lynette's nanny. Lynette is reluctant, but eventually agrees. Lynette ends up comforting Susan when she feels bad about not being as financially stable as her friends. Mike has taken the job in Alaska, and Susan accepts Lynette's offer to be baby Paige's nanny, even though she originally thought she was being hired to work in Lynette and Renee's new business. She overhears a new client of Lynette and Renee's, and suggests that she ask her daughter for her favorite characters to paint on her wall. The woman likes Susan's idea. Renee gets mad at Susan, while Lynette wonders why her friend is acting strange. Susan eventually reveals that she feels the nanny job is beneath her, and is shamed to be the poor person in her group of friends. Lynette comforts her, saying that money can't change the way she looks in their eyes. Lynette is shown to be insecure in their marriage when Tom complains that she never "talks him up" to her friends. She admits to him that this is because she believes he is so perfect, that she doesn't deserve to be with him. He tells her that she is the type of person who still cries when their last child grows out of their onesies, even after raising four other children. Lynette learns that Renee and Tom had a one-night stand 20 years ago which happened right after Tom and Lynette became engaged and she was visiting her parents (they were on a break). She doesn't take it well, and is of course upset but keeps it quiet and instead begins a series of pranks against Tom as payback. When Renee finds out what Lynette is doing, she tells Tom about it. Tom confronts Lynette and informs her that he wanted to tell her about Renee, but there was never a good time for it because he did not want to ruin the wonderful life they have together. Lynette then forgives Tom.
Tom gets a new job that provides well and Renee encourages Lynette to spend money more freely but also warns her that Tom will be spending more time away. Lynette tries to seduce Tom on an airplane but he insists that he enjoys his work too much. When Tom attends a conference, Lynette is upset that she is unable to attend any of the events because she's just a wife, relegated to spa time and other events with other wives. She tries to encourage them to fight for their equality but they're all happy with being out of the business side of things. Lynette steals one woman's ID to attend a talk only to discover she has the identity of the keynote speaker. Back home, Renee watches as Tom and Lynette argue, Tom snapping that after so many years supporting Lynette, it hurts that she won't do the same for him. Lynette complains to Renee but she fires back that Lynette has to choose whether to be a good wife or not. Tom hires the duo to decorate his office in the style of an arrogant boss but Lynette vetoes it as she feels it's not right for him. Renee overrules her to give Tom the office he wants. Lynette confronts Tom over how this isn't really him but he retorts that it's how he has to be in order to succeed and that Lynette needs to stop thinking of him as the soft man he's been at home for the last few years.
When Tom decides to book a luxurious holiday for the family and announces it Lynette is annoyed and consults Tom about why he did not consult her about it first (since she already informed him a few weeks ago that she had already planned a trip). The two then pitch to the kids what they think is the best holiday which leads to yet another fight between them; this time however they insult each other. Lynette calls Tom a "Pompous Ass" while Tom labels Lynette as a "Raging Bitch" leaving them to decide that it is only them who need to spend a holiday together. The holiday turns out badly and the relationship deteriorates and becomes extremely awkward. When they return home Tom leads Lynette to believe that he will be spending a while in an apartment near to his work offices. Before Lynette attends a street dinner party, Penny reveals to her that Tom had left her a note. Lynette is surprised and finds that Tom's unpacked suitcase from the holiday is not in the bedroom, convincing her that Tom had left her. After revealing to Susan that she thought Tom had left her, Lynette walks into her house, finding Tom, chopping up salad ingredients. He tells Lynette that he had only gone to buy the ingredients. Lynette questions him why it had taken him two hours, leading Tom to reveal that he had left but came back when he considered that Lynette would have to lie about where Tom was to her friends at the dinner party. The two talk for a while and Lynette confesses that when she thought Tom had left, she felt relieved, leading the pair to finally decide to separate.
In the same evening that Lynette decides to separate from Tom, she, along with Bree and Susan, walk into Gaby's living room to find that Carlos has murdered Alejandro, Gaby's stepfather. The four ladies agree to cover up the murder to protect Carlos, stuffing the body in a wooden box used as a table at the evening's dinner party.
Season 8[edit]
Not only is Lynette suffering strain from the murder but she is also having a tough time with her separation from Tom. At first she is reluctant to tell the children, but after she has a one-night stand with Tom, he decides to tell them. They then clash over Tom letting the children have whatever they want, making Lynette the bad person who always says "No". Lynette talks to Tom about booking couples therapy to try to heal their relationship. However, after Renee comments that Tom has been taking care of himself lately (dressing smartly and working out) and suspects he has been dating someone, Lynette becomes worried. She goes to a gym class with Renee to spy on the trainer she believes Tom is seeing, but realizes he is actually dating the woman's mother, Jane, leaving Lynette devastated. Terrified of what would happen to her children if she is caught by Chuck, Lynette confesses her secret to Tom just as he is about to leave for Paris with Jane. He decides not to go, leaving his relationship on the rocks, which leaves him furious with Lynette. Lynette then feels bad about him having to stay for her, as he thinks that she might be the "one". Lynette then tells him to go to Paris. This leads Lynette to try to experiment with new dates herself, and meets a new man, who seems very keen on her. She finally sleeps with Renee's barber and moves on, though at first she cries during the sex. She along with her friends finally find out that Bree tried to commit suicide because of them, and after Bree rejects them, was loss for words. Just as Lynette is getting used to single life, Porter and Preston move back home, needing a place to stay after losing their apartment. Lynette is already frazzled when she learns that Porter is the father of Julie Mayer's baby, making Susan and Lynette grandmothers.
Her world is further shocked when Tom asks for a divorce, and announces that he and Jane will be moving in together. Lynette is devastated, and her rivalry with Jane becomes more heated at Penny's birthday party when they continually try to one up each other. Jane then later tries to reconcile with Lynette, but then she begins to choke on a snack. Lynette hesitates to help Jane, but ultimately comes to her aid and saves her. However, Jane is alarmed at Lynette thinking such an action over believing she thought of letting Jane die. Then on the day of Mike Delfino's funeral, Tom and Lynette comfort each other as Jane looks on. Sparks of their marriage appear and while sitting at the service Lynette thinks back to the day Tom moved out. Mike tries to understand why Lynette isn't fighting for her marriage. He then reveals that everyone in the neighborhood knows that she and Tom belong together. This memory finally causes Lynette to make the decision to fight for her marriage, win Tom back, and dissolve his romance with Jane. In With So Little to Be Sure Of Lynette and Tom officially sign their divorce papers ending their marriage. When Lynette hears Tom hasn't filed the papers, she is hopeful but after seeing Tom and Jane kiss at the office, she accepts a date from Tom's boss. It goes well at first but when he plans to transfer Tom to India, Lynette breaks it off. The boss sardonically insults Lynette before Tom about her being hung up on another man and after insults to her, Tom punches him. He and Jane argue with Jane realizing that Tom still loves Lynette and they break up. Tom goes to see Lynette but sees her hugging Lee and (not seeing who it is), thinks Lynette has moved on. He tells her he is filing but in a later talk, they realize how much they love each other and reconcile.
Katherine Mayfair comes back to Wisteria Lane, offering Lynette a job at her new food company. Lynette doesn't want it as she and Tom are together again but wants to prove herself. At first taken aback, Tom lets Lynette know he'll support her no matter what. It's revealed in the final moments that the two move to New York, Lynette becoming a successful businesswoman and eventually watching over six grandchildren.
In the finale, Julie gives birth to Porter's daughter, who is Lynette's granddaughter.
References[edit]
^ Jump up to: a b c "Finishing the Hat". David Grossman (director), Marc Cherry (writer). Desperate Housewives. ABC. Season 8, no. 23.
Jump up ^ "Mother of Desperate Housewives creator featured in season two extras". The Virginian Pilot. September 1, 2006. Retrieved 2009-09-27.
Jump up ^ Heather (May 23, 2006). "Alex Kingston slams skinniness of the Desperate Housewives". Fametastic. Archived from the original on January 27, 2010. Retrieved 2009-09-27.
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