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There was a big hoo-ha a couple of years ago where some guy got his Amazon account terminated by returning too many expensive electronics.
And yes, he lost access to his Kindle books and then he went on a blog rampage. I can't say I've seen a ton of stories about Amazon accounts being shut-down though.
I can remember a poster on one of the boards, I'm not sure if it was MobileRead or another, his Amazon account was hacked and Amazon closed the account and had him open a new account. They couldn't transfer the Kindle titles to his new account so they issued a gift certificate refund for the cost of all his Kindle books and let him re-buy or buy new ones ... his choice.
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