  The gluino contributions to the $C'_{7,8}$ Wilson coefficients for b->s\gamma
are calculated within the unconstrained MSSM. New stringent bounds on the
\dRLbs and \dRRbs mass insertion parameters are obtained in the limit in which
the SM and SUSY contributions to $C_{7,8}$ approximately cancel. Such a
cancellation can plausibly appear within several classes of SUSY breaking
models. Assuming this cancellation takes place, we perform an analysis of the
b->s\gamma decay. We show that, in the unconstrained MSSM such an alternative
is reasonable and it is possible to saturate the b->s\gamma branching ratio and
produce a CP asymmetry of up to 20%, from only the gluino contribution to
$C'_{7,8}$ coefficients. Using photon polarization a LR asymmetry can be
defined that in principle allows the $C_{7,8}$ and $C'_{7,8}$ contributions to
the b->s\gamma decay to be disentangled.
