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This is not at all a strange problem .Don’t worry we will try to resolve this problem as simply as possible.
The reasons are following:
• Problem with browser.places preferences.
• Problem with Places.sqlite file
• May be the bookmarks.html is marked as read only

Let’s try these steps

• For Problem with browser.places preferences.
1. Enter about:config in the Location Bar
2. In the Filter box, type browser.places
3. Context-click (right-click) any preference with a user-set status (e.g., browser.places.importBookmarksHTML)
4. Click "Reset".
This is applicable for Firefox 3


• For Problem with Places.sqlite file

1. Place the bookmarks.html file in the Firefox folder.
2. If a "bookmarks.html" file already exists, allow the saved file to replace it.
3. Close Firefox completely.
4. Open the Firefox profile folder and delete (or rename) the "places.sqlite" file and, if it exists.
5. Restart Firefox

• For the read only problem of bookmarks.html
1. Navigate to the profile folder
2. Find bookmarks.html and (if it exists) bookmarks.html.moztmp
3. Right-click on the file, choose Properties
4. On the General tab, make sure "Read only" is not checked.
5. Press OK.

Here’s to Good Karma