Wuala is great, but the short summary is a bit misleading. There is a real risk of government agencies forcing LaCie to push you a client update that removes encryption, in an older version of their T&C / product info, this was mentioned explicitly.
When push comes to shove, governments everywhere will have no qualms about invading people's privacies en masse.
Human nature is the same everywhere. Power corrupts everywhere.
When power is centralized corruption effects are worse, exactly like when software is centralized failure effects are worse. Distribution is the answer. Distribute power, in a way in which it cannot be exploited.
I'm not an expert in politics, but I guess that communism had this kind of principle, but it totally failed in implementing it.