Well the problem is that it is incredibly difficult to explain to the laypeople about the complexity of the financial industry. In fact, even the students at various business schools have problems comprehending about futures and options, let alone CDS.
Though I do agree with some philosophers that when you have a problem explaining things to people, it is likely that you do not understand it well enough yourself too. Humour me about it when I am going back to school to study finance - how am I suppose to explain to people when the my lecturers don't even understand it?