President Exerts Executive Privilege Over Fast and Furious Documents [VIDEO]

UPDATE: The House Oversight Committee has approved a contempt resolution against Attorney General Holder, 23-17, in a party-line vote.  The charge will be voted on by the entire House of Representatives, who will decide whether the Attorney General is held in Contempt of Congress.

The Justice Department says the President has exerted executive privilege over Fast and Furious documents.

FOX News Radio's Jared Halpern reports from Washington:

Audio clip:

Citing an inability to reach an agreement, Assistant Attorney General Cole writes in that letter that the Justice Department has made an extraordinary effort to supply details about Fast and Furious, that botched gun walking operation that sent thousands of weapons to Mexican drug cartels and ultimately was linked to the death of a U.S. Border Patrol Agent. 

In that letter, Cole adds: "We are deeply disappointed that the Committee appears intent on proceeding with a contempt vote. The Department remains willing to work with the Committee to reach a mutually satisfactory resolution on this outstanding issue."

The executive privlege from the White House aims at blocking a wide-ranging subpoena on internal documents about Fast and Furious.

WATCH to learn more on this story:

CLICK HERE for more FOX News Radio coverage of this story.

 CLICK HERE to read Attorney General Eric Holder's letter to President Obama requesting executive privilege.

CLICK HERE to read the DOJ's letter to Representative Issa regarding executive privilege.