My red standby led blinks twice when I try to turn on my tv.

"Two blinks - B+ over current protection (OCP), unit goes to the standby mode then displays the 2 blink fault. Could be a short in the power supply of any of the circuits.

IMPORTANT: After you repair the unit, you MUST clear the values on this diagnostic screen. These codes do not reset themselves after the fault is corrected, so if you don't clear them, you'll be seeing ""old"" fault codes the next time you enter this screen. Clearing is done by going into the service mode (display, channel, 5, volume plus, then power ). Press 8 and Enter, which returns everything to the factory preset condition."

Large % of power supply problems are capacitors loss of life from working voltage being underrated by mfg for planed obsolescence. Check for caps in the 470uf range (as many as 6 ) rated 16 volt....replace with 25v caps same uf.