Bear Stearns didn’t approve any mortgages. Did they encourage their mortgage-lending relationships to approve as many as possible so they could bundle them up and sell them off to investors? Yes. But the big banks were not mortgage lending institutions.

She was also “a” managing director not “the” managing director.

“Over leveraged their debt”?? leverage is debt.

I think you have a pretty big misunderstanding here about the role Bear Stearns played in the ‘08 crisis and moreover what role Rhynhart played. Sounds like she was just some regular middle management level player.