Lord Adair Turner, from the Institute for New Economic Thinking spoke on this topic. Watch his speech here.
His conclusion was that we all need to keep the products (the new asset class and its derivatives) and their distribution Simple & Transparent.
I agree 100%. However, this only protects from a repeat of the 2008 type of crisis. I asked Lord Turner (watch last 2-3min) about this. Enjoy the dialogue. What risks do you see creeping up?