Does Cloud Computing Mean More Risks to Privacy?

Interesting NY Times article on privacy with regards to information/data you may store in the cloud. For me this would currently mean mostly Gmail and Facebook, but loads of folks are using Google Docs. 

I generally regard my Gmail differently than my work emails (which I know don't belong to me and assume anything written there will someday come to light). According to this article, maybe I should change the way I feel about Gmail too:

a government investigator, or even a lawyer in a civil lawsuit, can get access to records by simply using a subpoena rather than a search warrant, which requires more scrutiny by a court.

The article refers to a World Privacy Forum report that states: “Don’t put anything in the cloud you wouldn’t want a competitor, your government or another government to see.”

"Don't put anything???" Wow and I was mainly just worried about those pictures of over exuberance in college and bad fashion choices in high school.