How would having the phone companies store the records be better than having the government store them? If a warrant is required in either case, it seems like it would be best to go with the most secure storage option.

The various parts of government are usually better able to say no to each other, while a company may not be able to say no. What's Verizon going to do when some part of the government demands some records? How much time and money are they going to spend protecting those records?

Who's going to be held responsible when a phone company gets hacked and makes off with the motherload of records?

It just seems like having the phone companies store the records will make them less secure and more vulnerable to more requests from more agencies.