UH-OH: S&P LOWERS RATING ON 37 OF THE WORLD'S BIGGEST BANKS

THEY KNOW WHAT'S COMING AND IT AIN'T GONNA BE PRETTY:

S.&P. Cuts Ratings on Big Banks

The credit ratings agency Standard & Poor’s downgraded the ratings of some of the world’s leading financial institutions on Tuesday as part of an action involving 37 banks.

The agency lowered its ratings on Bank of America, Citigroup, Goldman Sachs and Morgan Stanley by one notch.

C-R-A-S-H.