When I try to jailbreak my 2nd Gen iPod Touch (running 4.2.1 and is an MC model) everything goes fine and on Redsn0w it gets to the point where it says "The rest will be done on your iPod". After that a lot of white text shows up on my iPod and is followed by a Pineapple logo with a progress bar. After that it goes to the Apple boot logo and has a small buffering symbol over it which may sometimes move but for the most part is frozen.
I'm using the latest version of Redsn0w.
Any help would be greatly appreciated.