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(Bloomberg Gadfly) -- Fly Charts: Never Mind the Glass-Steagall Revival: Gadfly This is Fly Charts, the daily charts-only newsletter from Gadfly; sign up here. Attribution Max Nisen: author Mark Gongloff: editor. [Extracted from the article]

(Bloomberg Gadfly) -- Bank Stress Test Doesn't Cry Out for Glass-Steagall: Gadfly Trump adviser Gary Cohn said in early April that he generally supported going back to the days when his old firm Goldman Sachs Group Inc. was just an investment bank and big banks like Citigroup Inc. stuck to lending. [Extracted from the article]

(Bloomberg View) -- What a New Glass-Steagall Act Wouldn't Do: Mark Whitehouse Glass-Steagall has a noble aim: Limit the support that taxpayers provide to financial institutions in the form of deposit insurance and emergency loans from the Federal Reserve. When, during the last crisis, the central bank provided emergency liquidity to vast swathes of the financial sector -- including insurer American International Group Inc., numerous investment banks and the entire money-market mutual fund industry -- it did so not because there was no more Glass-Steagall. [Extracted from the article]

When progressives like Warren talk about Glass-Steagall, they envision a scenario similar to 1933, where financial conglomerates are forced to spin off their investment-banking arms. Its version of Glass-Steagall would probably protect insured bank deposits from the investment banking side of the house while keeping big banking conglomerates intact. Elizabeth Warren and Gary Cohn sound as though they agree on restoring Depression-era banking rules. [Extracted from the article]

Trump adviser backs spliting lending, investment banking A day after White House economic adviser Gary Cohn said he would support efforts to separate Wall Street's investment banking operations from consumer lending, a group of lawmakers proposed legislation that would do just that. [Extracted from the article]

(Bloomberg Gadfly) -- The Warning to Investors in Cohn's Glass-Steagall Wish: Gadfly A new Glass-Steagall Act might allow Goldman to turn back the clock to happier days, when it was free from intrusive stress testing and U.S. Federal Reserve oversight, even if it would also force the bank to strengthen its balance sheet and absorb higher costs as a pure-play broker dealer. [Extracted from the article]

Treasury nominee offers some backing of Volcker trading ban "I support the Volcker Rule, but there needs to be proper definition around the Volcker Rule so banks can understand what they can do and what they can't do", Mnuchin, 54, said. [Extracted from the article]

The platform also embraces Trump's America-first stance on international trade, saying trade agreements -- such as the Trans-Pacific Partnership negotiated by the Obama administration, though an explicit reference to that deal was removed -- should not be rushed. The platform also embraces Trump's America-first stance on international trade. [Extracted from the article]

(Bloomberg Politics) -- Martin O'Malley Wants to Be the Glass-Steagall Candidate Former Maryland Gov. Martin O'Malley, who seems to be readying a 2016 run as the un-Hillary, stepped up a campaign line this past weekend: bring back the Glass-Steagall Act. [Extracted from the article]

The article reports that Steny Hoyer, Majority Leader of the U.S. House stated that the House thinks to reinstitute the Depression-era Glass-Steagall Act. It mentions that this acts prohibited bank holding companies to possess other financial companies. Dean Baker, co-director of the Center for Economic & Policy Research in Washington stated that this change in law would also decrease the need of bailouts for taxpayers.