One solution
This may not be the same solution but here is something I just found out with my memory card.
First, I thought I had lost all saves. PANIC! AAAH! Google, help, ps2, memory card, not detecting, not reading, aaah!
I put in the card in slot two and the browser showed the saves. So I tried to just boot with it in slot two and load data. BUT NOOOOO. You must have it in slot one. So I pulled my hair out some more, Googled about other ways to save, maybe a usb memory card, sharkport, hard drive, something. Each remedy required a memory card IN SLOT ONE. Aaaah!
Then I rattled it around a bit, cleaned the inside with a toothbrush, some dust came out. Some games loaded after that but then all of a sudden THE SAME CRAP. Aaaah!
SO I thought...The difference between slot one and two was the card seemed to fit snuggly. There are little grooves in the memory card on the bottom inside. Maybe if I put some tape over them, it would make it tighter so the two chips could connect better. Much like new cell phones, which recently I had problems because of the same thing.
Make the tape really slim and if it is not flat, pull it back out. Push it down good with the blade of the scissors or something.
Suddenly, all saves work.
My theory is that the previous owner of the PS2 had taken his card out too many times or just plain something in the factory was off a miilimeter or something. Who knows. I hope that this solves most of the problems of people losing their memory or at least helps someone else. It is so simple yet frustrates the hell out of you when your kid is crying over lost saves and you want to play a game but don't want to if you can't save. Good thing I have only had this system a week and wasn't heavily into Star Ocean 3 yet or something.