Originally Posted by
carlos100 Update - fixed
My3G was the problem, seems to have issues on 5.0.1
Glad that you got it fixed but I don't believe that there is a problem with My3G and 5.0.1 in general. That was the first jailbreak app I install on both mine and my wife's VZ iPhone 4 (because it is usually listed on cydia front page.
You may want to try re-jailbreaking & trying to reinstall My3G. For me that is top 3 of why I jailbreak.