Hi there
I had this problem the other day too when I upgraded to WP 3.2.1. I read somewhere that it could be an incompatibility problem with WP 3.2.1 and one of my installed plugins, so I went through and deactivated all plugins and slowly turned them back on one by one. Turns out the last plugin was the culprit, and so I’ve left it turned off and everything is back to normal.
The culprit in instance was Jetpack. I’ve posted a query on their feedback page to let them know they have a compatibility problem.
Hope this helps.
Caroline