Is "Operation Fast and Furious" going to be President Obama's "Iran Contra?"?

The speculation is, weapons were allowed to go across the border and be followed to their destination by BATFE and take down drug cartels. Some speculate it was an attempt to flood Mexico with weapons from US gun dealers to be later found there to boost interest in reinstating stronger gun laws.
Either way The president and his Atty General claim ignorance of details. There is expanding evidence that the FBI, DEA, and even the IRS were involved…but not the President or Eric Holder? I’m not going to provide links to the story anyone can google it. It has been out there for some time.