Holder will never turn on Obama, because to do so, he would have to admit that his whole legal philosophy was a lie. Holder believes in everything that he does.
I imagine that Holder tells Obama what is going on and how he proposes to handle it and then just gets the go ahead from Obama.
It all depends on how far Issa is willing to take this, I know Holder is a delusional ideologue who believes his own stink but is he willing to die on the sword for Obama?
Could be, in any event, it still puts his goose in the oven.