I get this error "mom.exe - .NET Framework Initialization Error"

mom is part of your ATI Catalyst Control Center, aka the configuration software for your display adapter.  If you don't care about it, download Autoruns, run it and click the Logon tab, find the entry that shows mom.exe or ATI Catalyst Control Center, and UNcheck it.

It sounds to me as if your .NET Framework installation has become corrupted.  Follow the directions below from long-time MS-MVP PA Bear

READ ALL OF THE DIRECTIONS -- INCLUDING THE LINKED ARTICLES -- BEFORE STARTING.

Step #1 => Before doing anything else, write down what .NET Framework versions are currently installed:

    How to determine which versions of the .NET Framework are installed and whether service packs have been applied
    http://support.microsoft.com/kb/318785

[I'm afraid this KB is woefully outdated but do the best you can.]

Step #2 => Now see Resolution Method 2 in this related KB article: http://support.microsoft.com/kb/923100

After running the .NET Framework Cleanup Tool (not the Windows Installer Cleanup utility!), reinstall all .NET Framework versions (but only the ones you wrote down in #1 above) manually using the download links on the page then run Windows Update manually to install security updates for same.

Download links for .NET Framework Cleanup Tool:

• http://cid-27e6a35d1a492af7.skydrive.live.com/self.aspx/Blog_Tools/dotnetfx_cleanup_tool.zip

• http://blogs.msdn.com/cfs-file.ashx/__key/CommunityServer-Components-PostAttachments/00-08-90-44-93/dotnetfx_5F00_cleanup_5F00_tool.zip

NB: If you remove .NET Framework 3.5 (SP1) using the tool, reinstalling .NET Framework 3.5 will also install .Net Framework 2.0 SP2 and 3.0 SP2; then Windows Update will offer .NET Framework 3.5 SP1.

IMPORTANT! => If you remove .NET Framework 3.5 (SP1), reinstall your .NET Framework versions in the following order:

    1. .Net Framework 3.5, then...
    2. .Net Framework 1.1, then...
    3. .Net Framework 1.1 SP1

NB: KB923100 references this page: http://blogs.msdn.com/astebner/archive/2006/05/30/611355.aspx.  Please read ALL of it as well as the related page http://blogs.msdn.com/astebner/pages/8904493.aspx before using the .NET Framework Cleanup Tool.

Step #3 => Check-in at Windows Update and install any critical security updates offered.