It seems you forget to put the "BOOT.ELF" (which is usually "unofficial launchELF" a.k.a. "ule").
Did you copy it to the right location?
If not,... You mustn't reinstall.
Just copy your "BOOT.ELF" to
or leave it on USB-Stick, but it is good to have this app on mc.
PS2 V7/DMS3 V2 (FW:2.4b7); Seagate Baracuda 200GB
PS2 V7/CC1.0 (FW:34 hacked v2 BM:2.1.6); Maxtor DiamondMAX9 PLUS 160GB
PS2 SCPH-30004R; NoMod+NoLaser
3xSony MC 8MB
MAX/Datel 16MB with Boot-CD
Custom FMCB 1.8b+ Beta-Build, my AIO 0.5, Sony&xRhino-Linux