Risk?

I was searching some information on CDS (Credit Default Swaps) to check that I didn't make naive mistakes on my thesis. I went through an article addresses the risk of CDS. He worried that CDS may be the source of risk in contrast to its purpose to hedge risk. I started to learn CDS from Jan, 2007. I think every finial product has its risk. CDS is not necessary risker than other products. It is important to understand to what level of risk you'd like to bear. It is also important to identify the risk of the financial products. You then decide whether to enter a CDS contract and which position you'd like to take.

If the risk level you have now is lower than your expected level then you can take more risk to gain more profits. If you have already bear to much risk you may consider reduce some of the risk.