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Will the Mack legacy survive at CSFB?

The challenge for any reformed gambler is not so much keeping out of the bookmakers while receiving treatment as staying away when the treatment ends. After three years of intensive therapy at Gamblers Anonymous under John Mack, Credit Suisse First Boston will now have to cope on its own.

The big question for CSFB – and for Mack's successor Brady Dougan – is whether the years of austerity has cured the bank of its compulsive gambling habit, or whether Mack has only temporarily held at bay and concealed CSFB's profligate habit of throwing money out of the window.

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