The Senate voted 70-30 this afternoon to give Ben Bernanke another term as chairman of the Federal Reserve, ending speculation that anger over Wall Street bailouts could cost him his job. Bernanke’s confirmation came just three days before his first term expired.

His opponents blame him for not preventing the financial crisis of 2008.

“Chairman Bernanke was asleep at the switch while Wall Street became the largest gambling casino in the history of the world and hurtled into insolvency,” said Senator Bernard Sanders, an independent from Vermont. “His failure to adequately regulate financial institutions should not be rewarded with a reappointment.”

Sanders said the fact that 30 senators voted against Bernanke—the most opposition ever to a Fed chairman—should send him a message: “Start representing the needs of the middle class and working families, not just Wall Street CEOs. Stop credit-card rip-offs. Free up credit for small businesses. Break up big banks, and stop the secrecy surrounding trillions of dollars in blind loans.”

Supporters concede Bernanke might have made mistakes leading up to the financial crisis, but said his actions during the emergency helped the United States avoid another Great Depression.

Senator Joseph Lieberman, a Connecticut independent, said Bernanke “acted in a timely and decisive manner to shepherd our country through one of the worst financial crises we have ever faced. Although it is easy to criticize any single decision made during the crisis in isolation and with the benefit of hindsight, our economy would likely be in far worse shape today than it is without Chairman Bernanke's leadership and diligence during this extraordinary time.”

But some senators who voted for Bernanke did so with reservations.

“My vote should in no way be interpreted as an unequivocal endorsement of Chairman Bernanke’s performance,” said Senator Orrin Hatch, a Utah Republican.

Hatch said “two very practical and important facts” prompted his vote to confirm Bernanke: a fear that President Obama “would choose someone far more liberal” than Bernanke to replace him; and apprehension over how the financial markets would react to not having a permanent Fed chairman for weeks or months.

The Business Roundtable, which represents the CEOs of large companies, quickly congratulated Bernanke on his confirmation.

“Today’s vote will increase stability in the markets, providing financial institutions the confidence they need to continue lending to businesses and consumers,” said John Castellani, president of the organization.

The vote came too late to stop the slide on Wall Street, however. The Dow Jones industrial average lost 115.70 points, closing at 10,120.46. Unless there is a huge rally Friday, the stock index will end January with its biggest monthly loss since February 2009.