(Business 2.0) – Credit Suisse First Boston has more to worry about these days than the criminal indictment of Frank Quattrone, its former star analyst. CEO John Mack has been slashing head count and costs--some say in preparation for a sale. And there are those who doubt that CSFB's recent profitable quarter, the first in two years, will be repeatable. With the IPO window still shut, larger banks eating its lunch in M&A activity, a share of the $1.4 billion SEC-mediated settlement to pay, and a list of lawsuits pending, what's CSFB to do? --MICHAEL V. COPELAND

Robert Sutton, Stanford University business and engineering professor

"This reminds me of the old General Motors plant in Fremont, Calif. They brought in Japanese management, renamed it, and hired the same workforce. Boom! The plant went from worst to among the best in the U.S. CSFB has many talented people. I'd get rid of senior management, un-Frank it. Rename it, bring in some senior leaders--perhaps from outside the industry--who can change the ethical climate."

Jay Ritter, University of Florida finance professor, IPO specialist

"CSFB has partly changed its organizational structure, but they were the most corrupt of the major investment banks, so they should go the furthest to clean up. Eliminating conflicts between analyst recommendations and investment banking business requires the complete separation of research. CSFB should completely eliminate in-house recommendations and rely entirely on outside analysts such as Sanford Bernstein."

David Ruder, Northwestern University law professor, former SEC chairman (1987-1989)

"It's not just a matter of following the terms of the settlement. There will be other temptations to achieve profits by crossing the line, so it's a matter of looking inward to make sure that doesn't happen again. Policy and attitude are important. The 'tone from the top' should make it clear that current compliance and ethics policies must be followed, and that the firm should be on constant alert for problems that aren't specifically covered by current policies."