Unable to launch any MMC snap-ins

Problem

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Unable to launch any MMC snap-ins, we got the following error:
Unable to launch any MMC snapin, get the error:
MMC could not create the snap-in. 
The snap-in might not have been installed correctly.

Name: <name of the snapin>
CLSID: FX: <the clsid>

Cause

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The problem happened due to a corruption of the Machine.config file.

Solution

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1. Renamed the machine.config file to machine.config.old
2. Copied the machine.config file from a working machine 
   to C:\Windows\Microsoft.NET\Framework\v2.0.50727\CONFIG\