Yesterday, I was playing Chaos Field Extended, after a bit of a break from RE4. The power went out while I was playing, so I shut off both the Cube and the surge protector it was plugged in to. The power came back on, and I decided to pop RE4 back in. Only now, for some reason, my Cube wasn't finding my RE4 save. So I popped the game out and went into the Cube's memory card manager. There was nothing there anymore, on either memory card.
Poof. Nada. All Gone.
Game saves for at least a dozen games had all disappeared. Pissed off, I decided it must have been the power outage, although I had never seen a console do that before. So back in goes RE4, and I play an enjoyable five hours or so back into it. I took a break, played a bit more CFE, and then popped back in RE4. So far, so good... On a whim, after turning off the Cube, I decided to turn my surge protector back off, and unplugged it from the wall.
So just a few minutes ago, I decided to plug everything back in, and go back to RE4. No game save. I went back into the memory card manager, only to find that again, all saves were lost. WHAT...THE.....FUCK?!!!

So anyway, I was wondering if anyone has had any experiences like this before. Surely this console doesn't erase all of the memory card saves every time the power goes out. Does it? Any insight into this problem would be greatly appreciated.
Thanks in advance...