Comparisons of gross national to other measures of value or risk aside, isn't the point that the risks inherent in this magnitude of derivatives trading are sim

Comparisons of gross national to other measures of value or risk aside, isn't the point that the risks inherent in this magnitude of derivatives trading are simply not understood? "Blowing up the world" might be hyperbole. On the other hand, these markets are mostly unregulated. Does anyone really understand the systemic risk posed by this segment of the market?