Morgan Stanley just announced fourth-quarter earnings, and it is providing detail to investors on a cost-saving plan called Project Streamline. During a conference call, CEO James Gorman uttered a sentence that will most likely make the bank's staff shudder. "Too many employees based in high-cost centers are doing work that can sensibly be done in LOWER-COST CENTERS," he said. "Now is the time to tackle head-on our infrastructure costs." The mention of "lower-cost centers" most likely means the bank is looking to shift jobs overseas or to low-cost locations in the US. His comments echo a line in his presentation,...