A Secret Message

Flipping through one of my yellow notepads for a blank page, I came across this cryptic message, in all caps and written in pencil:

Attention AGENT
THE PSA IS ALMOST READY
TO QUESTION THE
CRAB
F.UR.THER INVESTIGATION
COMING SOON
P.S. THIS MISSAGE
WILL SELF-DESTRU
CT
_______________
THE RED LIGHT
SPELLS "YOU ARE
"COOL" IN MORSE

I think the kids have been reading spy books. Or are planning a coup.