But the inclusion of Leach, who represented Iowa in congress for 30 years and at one point served as chairman of the House Banking Committee, has caused concern from some on the left. Leach oversaw the deregulation that many blame for today’s financial crisis, critics say, and giving him such a prominent job does not represent a change from the policies of the past.

Linda Thieman at Blog for Iowa puts it this way:

Whereas I am glad that Obama seems to suddenly be remembering to include WOMEN in his all-inclusive team, I’ll admit I about gagged to see that he is asking Iowa’s Jim Leach to represent him at this summit.  Jim Leach?  The guy who chaired the House banking [deregulatory] committee before Iowa citizens ousted him from office?  Come on, Obama.  Give us a break.  I guess that’s Leach’s reward for endorsing Obama once the inevitable became clear.  But as a point in his favor, I guess I can say he’s a far better choice than if Obama had chosen some neocon fox to guard the hen house.

Leach bucked his party to endorse Obama in August, even speaking at the Democratic National Convention. In 1999, he co-sponsored the the Gramm-Leach-Bliley Act, which repealed a Depression-era banking regulation law and paved the way for a number of mergers in the financial industry. Many, including Obama, have said the bill contributed significantly to today’s economic turmoil.