CS0007: Unexpected common language runtime initialization error -- 'Access is denied. '

I've found very little, unhelpful information regarding this error on the internet and this is my last hope. I've been running IIS7 on Vista no problem until this morning. Now, I receive and error that states "CS0007: Unexpected common language runtime initialization error -- 'Access is denied. '"  I've tried uninstalling/reinstalling IIS as well as the 2.0 .net framework.


 I'm not sure if this error was caused by a new update or what. Here's the full error log:

Event code: 3007
Event message: A compilation error has occurred.
Event time: 9/19/2007 10:53:54 AM
Event time (UTC): 9/19/2007 2:53:54 PM
Event ID: 93eddbd722154460a7bfbd799c994d4e
Event sequence: 3
Event occurrence: 1
Event detail code: 0
 
Application information:
    Application domain: /LM/W3SVC/1/ROOT-2-128346872338649003
    Trust level: Full
    Application Virtual Path: /
    Application Path: C:\inetpub\wwwroot\company\theluxuryindex\
    Machine name: LAPTOP
 
Process information:
    Process ID: 4580
    Process name: w3wp.exe
    Account name: NT AUTHORITY\NETWORK SERVICE
 
Exception information:
    Exception type: HttpCompileException
    Exception message: (0): error CS0007: Unexpected common language runtime initialization error -- 'Access is denied. '
 
Request information:
    Request URL: http://localhost/
    Request path: /
    User host address: ::1
    User:  
    Is authenticated: False
    Authentication Type:  
    Thread account name: NT AUTHORITY\NETWORK SERVICE
 
Thread information:
    Thread ID: 1
    Thread account name: NT AUTHORITY\NETWORK SERVICE
    Is impersonating: False
    Stack trace:    at System.Web.Compilation.AssemblyBuilder.Compile()
   at System.Web.Compilation.BuildProvidersCompiler.PerformBuild()
   at System.Web.Compilation.CodeDirectoryCompiler.GetCodeDirectoryAssembly(VirtualPath virtualDir, CodeDirectoryType dirType, String assemblyName, StringSet excludedSubdirectories, Boolean isDirectoryAllowed)
   at System.Web.Compilation.BuildManager.CompileCodeDirectory(VirtualPath virtualDir, CodeDirectoryType dirType, String assemblyName, StringSet excludedSubdirectories)
   at System.Web.Compilation.BuildManager.CompileCodeDirectories()
   at System.Web.Compilation.BuildManager.EnsureTopLevelFilesCompiled()
   at System.Web.Hosting.HostingEnvironment.Initialize(ApplicationManager appManager, IApplicationHost appHost, IConfigMapPathFactory configMapPathFactory, HostingEnvironmentParameters hostingParameters)
 
 
Custom event details: Start Free Trial