Ubuntu: reading USB storage device crashes the kernel

Firmware: u9500-100-android-2.3_v1.2
hwpack: http://snapshots.linaro.org/precise/hwpacks/lt-snowball-x11-base/15
userspace: http://snapshots.linaro.org/precise/images/ubuntu-desktop/114

Configuration:
  . Snowball V11 connected to powered USB hub.
  . Keyboard and mouse connected to the hub.
  . USB key (Kingston 8GB) connected to hub.

To reproduce:
  When the UI comes up, accessing the USB stick crashed the kernel with this trace:

[ 91.877990] Unable to handle kernel NULL pointer dereference at virtual address 00000000
[ 91.886077] pgd = e9e38000
[ 91.888793] [00000000] *pgd=29f36831, *pte=00000000, *ppte=00000000
[ 91.895080] Internal error: Oops: 817 [#1] PREEMPT SMP
[ 91.900207] dbx500_dump notified of crash
[ 91.906249] Modules linked in: cw1200_wlan(C) cw1200_core(C) mac80211 g_multi
[ 91.913421] CPU: 0 Tainted: G WC (3.3.1-37-linaro-lt-ux500 #37~lt~ci~20120422001938+1335057841~4f938b89-U)
[ 91.924652] PC is at __raw_readsl+0x30/0x100
[ 91.928894] LR is at 0x2c010102
[ 91.932037] pc : [<c02eee14>] lr : [<2c010102>] psr: 200f0193
[ 91.932037] sp : e9995d80 ip : 01004649 fp : e9995db4
[ 91.943511] r10: 00000000 r9 : 00000000 r8 : 00000200
[ 91.948730] r7 : ec840010 r6 : ec840028 r5 : 00000200 r4 : 464a1000
[ 91.955261] r3 : e0ffd8ff r2 : 00000078 r1 : 00000000 r0 : ec840028
[ 91.961791] Flags: nzCv IRQs off FIQs on Mode SVC_32 ISA ARM Segment user
[ 91.968994] Control: 10c5787d Table: 29e3804a DAC: 00000015
[ 91.974731] Process compiz (pid: 2562, stack limit = 0xe99942f0)
[ 91.980743] Stack: (0xe9995d80 to 0xe9996000)
[ 91.985107] 5d80: 00000000 c041ff48 c001a6e8 c001e038 c06ad9c0 00001000 e9995dc4 e8fb33c0
[ 91.993286] 5da0: 00000000 eb922508 e9995e0c e9995db8 c04273b4 c041fea4 e9995dec e9995dc8
[ 92.001434] 5dc0: c001ad84 c001a5d4 c001e7e4 c0406038 e8fb33c0 eb922000 00001000 c0008380
[ 92.009613] 5de0: e9995e0c e8fb33d4 eb922508 e8f67bc0 00000003 eb922108 c0a7c128 00000002
[ 92.017791] 5e00: e9995e74 e9995e10 c04286b0 c04272c0 e9995e2c e9995e20 c0048edc c0048e4c
[ 92.025970] 5e20: e9995e74 e9995e30 c0420424 c0048ec0 00000001 00000000 e8fb33c0 00000000
[ 92.034149] 5e40: c0008380 ec840010 eb72aac0 eb922108 0000005d 00000001 00000002 00000001
[ 92.042327] 5e60: b6b5b590 00000004 e9995eac e9995e78 c0420e40 c04281b4 c0a1a548 c06ad9c0
[ 92.050506] 5e80: eb72aac0 c0a1a548 00000004 eb922108 600f0193 00000037 00000000 00559ab8
[ 92.058654] 5ea0: e9995ecc e9995eb0 c0420fbc c0420dc4 c0420f5c ebbc7980 c09feb94 00000037
[ 92.066833] 5ec0: e9995f14 e9995ed0 c00993e4 c0420f68 00001000 fffffff5 00000001 c09feb40
[ 92.075012] 5ee0: 00000000 00000000 00400040 c09feb40 c09feb94 ebbc7980 00000037 00000000
[ 92.083190] 5f00: b6b5b590 00559ab8 e9995f34 e9995f18 c0099698 c0099378 00000000 c09feb40
[ 92.091369] 5f20: c09feb94 e9994000 e9995f4c e9995f38 c009c528 c0099658 c0a1bcc0 c09f7440
[ 92.099548] 5f40: e9995f5c e9995f50 c0098b74 c009c48c e9995f84 e9995f60 c001010c c0098b44
[ 92.107727] 5f60: 00000037 00000000 c0a1a5d4 fa410100 e9995fb0 c0a1a5d4 e9995fac e9995f88
[ 92.115875] 5f80: c000853c c00100bc b1010600 b6ad6d38 200f0030 ffffffff beb7b7d0 00000001
[ 92.124053] 5fa0: 00000000 e9995fb0 c000f440 c0008514 b1010600 00000001 b69290cc 00000003
[ 92.132232] 5fc0: 00f348f8 b1010600 005598d0 beb7b7d0 00000001 b6b5b590 00559ab8 b1014888
[ 92.140411] 5fe0: b5d9c5f4 beb7b798 b5d1c769 b6ad6d38 200f0030 ffffffff 00000000 00000000
[ 92.148590] Code: e5904000 e590c000 e590e000 e2522004 (e8a15018)
[ 92.154693] CPU 1 will stop doing anything useful since another CPU has crashed
[ 92.162536] Loading crashdump kernel...
[ 92.166381] Software reset on panic!