The President is correct in using Executive Privilege...

[TBMASE]

3. The problem was Holder's initial testimony turned out to be untrue

The claim that Federal Agents weren't acting as straw buyers and then walking the guns across the border wasn't accurate. Then there was the claims that Holder didn't know anything about the program until a few weeks before being questioned. Again, turned out to be untrue, he had been receiving weekly memos on the operation.

Obama should have asserted EP from the start but once there was testimony at odds with the facts, it looks bad. They should have gone in, laid out the plan from the Bush administration, owned up to the the fact that Federal Agents were straw buyers, apologized and it would have been over. Now, it looks like a cover up