Dear
@cromwellc Mr Coulson,
It seems you were particularly engaged the evening of the
#Gensler Spaces call with Mr David Lauer
@dlauer.
According to FOIA-released correspondence (below), you reached back out to Amanda Fischer, Chief of Staff to the SEC Chair, around midnight EST on the same evening, following the broadcast. One wonders: what exactly was so urgent?
Was it the Chairman’s tone? The lingering possibility that something could have slipped through the preconditioning filter? Or the relief for those topics omitted during the call, namely
#MMTLP?
Because by that point, you had already sent Amanda a pre-call memo titled “Gary Gensler and Dave Lauer on Twitter” in which you explicitly referenced MMTLP, described retail investors as “amateurs" **shame on you!**, dismissed concerns of synthetic shorts, and provided suggested talking points for the Chair.
A few questions, then, for the public record:
1. Do you consider it appropriate for the CEO of a trading venue to privately brief the SEC Chair’s Chief of Staff in advance of a live Q&A with 1,000s of retail investors listening in, with an aim to steer narrative framing?
2. Was any part of your near-midnight follow-up designed to monitor, evaluate, or “correct” the outcome of the Chairman’s appearance?
3. Have you ever briefed the
@SECGov before any other public appearances by its leadership, or was
$MMTLP uniquely deserving of late-night concern?
4. How frequently do you communicate directly with senior SEC staff in advance of public-facing events, especially those with retail audiences?
5. And finally: if your remarks to the SEC contained partial or misleading representations, which now appear to be contradicted by subsequent FOIA disclosures and broker-dealer admissions, do you plan to issue a clarification or retraction?
Everyone has been focused on the U3 halt. But the real breach didn’t happen at the end.
It happened on Day 1, the moment
#MMTLP was allowed to trade.
By the time the U3 was triggered, the damage was already done.
The halt didn’t cause the crisis.
It concealed it.
We understand that market stability keeps many executives up at night.
But the midnight timing of your note suggests it may not be volatility that’s disrupting your sleep, it may be the truth.
So if you're serious about market integrity and not just another market hypocrite, start the timeline and your briefing at the beginning.
Not when they pulled the plug but when they plugged in a security that should never have gone live.
Bonus question, if everything you did was all above board, then why did your senior staff (Patti Cassimates) refuse to share with
@Metamaterialtec (the issuer) the NAMES of those who got MMTLP to start trading? What's the big deal keeping you from sharing a couple of names like GTS with the issuer???
The public *and Congress* look forward to your transparent answers.
And if you refuse to answer... respectfully, stop hiding behind the SEC's skirt, and immediately resign your position. Let someone else lead the
@OTCMarkets before it is too late.
@TheRobbCarter @denniskneale @SecKennedy @JDVance @cvpayne @PeteSessions @RepDonaldsPress @Jim_Jordan