I was viewing a video by Tony Scott, Microsoft CIO on their Microsoft Partner Network on IT Trends for 2010. He had an interesting analogy wherein he compares Cloud Computing to Banking and how we do not keep our money in a mattress anymore rather we keep it in the banks. I was wondering if the Cloud Service Providers (including MS) should take a cue from that and agree to have a governing body, like FDIC in case of banking, to oversee the facilities, practices and processes. This could be an independent body funded by a consortium of Cloud Service Providers. This body can be used not only to certify that the Cloud Service Providers are reliable, but can also pool funds from the CSPs and provide insurance for the customers who get adversely impacted by events. Just a random thought, I am sure it would take a lot of time and effort to come up with the strategy and implementation plan for this though.