Is your data safe in the cloud?

I don't mean is it safe from government spies? I think we can assume after the NSA revelations that governments can access your data whenever they want.  I mean will it always be there for you to access? What if the cloud storage company you use goes bust, or what if a legal fight closes them down. Are you certain you'll be able to gain access to your data? You read all the small print on the terms and conditions before you clicked "Accept" didn't you? The Guardian reports that Kim Dotcom, in a series of angry tweets,  has claimed that internet-hosting company LeaseWeb has wiped data from 630 servers that were used by his online storage service, Megaupload. One tweet said "Millions of personal #Megaupload files, petabytes of pictures, backups, personal & business property forever destroyed by #Leaseweb." Clearly there will be many ex-Megaupload users who will have irretrievably lost data that was important to them.
    With more and more of us being encouraged to store our data in the cloud it's perhaps inevitable that a cloud storage provider will go belly up in the future taking people's personal data with them. I think the industry needs some form of code of conduct or legal assurance that people's data will remain accessible for a time after a company's collapse. Of course the NSA probably has a copy - perhaps they have a valid role after all!