What are the concerns with the use of derivatives. What are the dangers of misusing derivatives products such as futures to firms and if derivatives pose a danger to the whole financial system and should they be banned? Recently a complex derivatives trade has caused over $5 billion losses at J.P. Morgan. Above all, an investment guru, Warren Buffett, once referred derivatives to as "time bombs" and financial "weapons of mass destruction" . According to warren buffet what are the concerns with derivatives?