What is in those Fast and Furious documents that Barack Obama and Eric Holder are holding back?

They must be...

Powerline reports:

My friend Bill Otis was a Justice Department lawyer for many years. He spent a good portion of those years as a prosecutor. He also served as an attorney in the White House Counsel’s shop, so he knows all about dealing with unpleasant congressional inventigations and demands for documents.
In short, Bill is extremely very well positioned to comment knowledgably on the dispute between Rep. Issa’s Committee and Eric Holder, and on the White House’s decision to assert executive privilege. Here is what Bill had to say:

Even with his fawning press, [Presdient Obama] will pay a price for this one. He knows this, meaning that the documents now to be withheld must be dynamite. They have to show either that Holder knew what was going on with Fast and Furious and approved it, or that he directly committed perjury in his Congressional testimony, or both. I just can’t see any other explanation for such a risky move. 

Wasn’t the Washington Post just covering big time the 40th anniversary of Watergate? I wonder how much coverage this one will get. 

UPDATE: Some have speculated that Obama’s intervention means that the president himself has something to hide.

 As Fred Thompson once asked:  "What did the President know, and when did he know it?"


Mark Levin:  How the House should move forward...

Earlier EBL posts:
Holder is contemptible...
Trey Gowdy calls Holder out...
Holder gets President Obama to declare executive privilege

Update:
CBS News reports Holder was briefed on Fast and Furious in 2010, contradicting his testimony to Congress
Obama's privilege claim is frivolous
The Other McCain
The Volokh Conspiracy

Update Bombshell:   Did Obama and the White House know about Fast & Furious in 2009?  So Executive Privilege is being invoked to save Obama from embarrassment (or worse)?    
h/t:  Protein Wisdom.