I had the same problem in Windows 7 Professional that also had Google Chrome factory installed as the default browser.

The solution that worked for me was to (i) rename the folder Internet Explorer under Program Files, (ii) run Internet Explorer from Program Files (x86) (iii) set IE as default.

A few days later I noticed that Windows Explorer would keep opening folders in a new window and by restoring the Internet Explorer folder name in Program Files the problem disappeared and IE9 32-bit is still the default browser