Why hide all? Possibly to cover some inconvenient fact in one. Suppose he had something to hide in only one transcript. If he reveals all but that one, then we now know where to focus our concern. We know he lied about his association with Ayers and when he first met him. We also know that they worked together on education issues. Why would Ayers select him for the foundation? Was Ayers a teaching assistant while at Bank Street?
The reason he won’t release the transcripts are twofold:
1. The grades are mediocre.
2. Beyond the core classes, the electives are all problematic given his current situation: Black Studies, Muslim Studies, Communism, Marxism, Socialist Economics, Russian Language, Islam...etc. etc.
He can’t release the transcripts because they would sink his candidacy once and for all. Welcome to Manchuria.
Has he even released his medical records yet?
There might not be anything negative about them. They might be waiting for the right to make an even bigger fuss about it, then release them a week or two before the election and claim it as 'evidence' that everything we have said about Obama was baseless. And since most people don't follow these things very closely, it will probably work.