It’s BOTH.
From the Daily Caller:
House oversight committee Chairman Rep. Darrell Issa pressed…Barack Obama directly on his assertion of executive privilege over documents related to Operation Fast and Furious.
“[Y]our privilege assertion means one of two things,” Issa wrote to the president in a letter dated June 25. “Either you or your most senior advisors were involved in managing Operation Fast & Furious and the fallout from it, including the false February 4, 2011 letter provided by the attorney general to the committee, or, you are asserting a presidential power that you know to be unjustified solely for the purpose of further obstructing a congressional investigation.”
Issa revealed in the letter to Obama that Attorney General Eric Holder had requested the president assert the privilege in a letter last Tuesday evening — shortly after Holder, Issa and other congressional leaders involved in Fast and Furious met to try to come a resolution before last Wednesday’s contempt vote in Issa’s oversight committee. The president’s decision to assert the privilege came via a letter from Deputy Attorney General James Cole to Issa minutes before Issa began the proceedings against Holder.