Fast and Furious
The Facts Between 2006 and 2011, the ATF allowed (and/or supervised) illegal sales of guns to gangs in Mexico. The idea was to trace the guns to gang leaders in conjunction with the Mexican government. Hundreds of people were killed as a result, including an ATF officer named Brian Terry. Beginning in 2011, the House Judiciary Committee held hearings on this issue. Originally Eric Holder testified that he was not aware of the operation until only a few weeks before the hearings. Later it was proven that Holder had received reports on this operation as early as 2010. Holder acknowledged this but claimed he was confused. The House demanded all documents pertaining to Fast and Furious, but President Obama invoked executive privilege on a small number of documents, claiming national security. Because of this action by Obama and Holder's earlier lie or misstatement, the House of Representatives held Eric Holder in Contempt of Congress in June of 2012. Democrats claimed this was a purely partisan move designed to influence the presidential election.
The Charge House Representatives, led by Darrell Issa, believe that Fast and Furious, though in effect since 2006, only became significant in 2010 under Eric Holder. They believe Holder deliberately lied and withheld documents. The Heritage Foundation, along with other conservative sources, have charged that Holder deliberately hoped for gun violence as a result of this operation so as to clampdown on legal gun owners in the United States. The NRA has taken up this accusation and believe that this operation, along with other "false flag" operations, are designed to weaken the Second Amendment. Other extreme conservative sources have charged that Brian Terry was deliberately murdered by members of the ATF under the orders of Holder and the Obama Administration, perhaps because he "knew too much".
The Defense Both Obama and Holder have placed 100% of the blame for Fast and Furious on the Bush Administration. They claim initial lack of knowledge, and once they learned about it they stopped it. Holder regarded the House hearings as a partisan witch hunt designed to embarrass him and the Obama Administration. No wrongdoing or mistakes have ever been acknowledged; only some initial confusion.
My verdict It's highly implausible that Holder did not know what was going on before 2011. If he knew and lied about it, that is a sign of corruption (though not major corruption IMO.) If he did not know about it, that is a sign of incompetence. Either way, this whole incident is an embarrassing stain on the Obama Administration. However, numerous investigations by journalists and by Congress have yet to uncover any deliberate wrongdoing by Obama and Holder. And the absurd conspiracy theories pushed forward by some conservatives and especially the NRA have not helped Issa make credible accusations. The Contempt of Congress was a ridiculous political move, unworthy of Congress. But Holder does deserve criticism and there's no way to give him a good or even passing grade here.