HELP!! When I open Photoshop CS3 it states "Could not initialize Photoshop because yo

[SchroederDoodle]

When I open Photoshop CS3 it states "Could not initialize Photoshop because you do not have the necessary access privileges".
Also, InDesign crashes when trying to open it.

I am running OS X 10.6.8
The most recent task I did was a Mac OS snow leopard software update.

I created a new user account and both Photoshop and InDesign work perfectly when logged into that account, but the problem is persisting with my old account.

I tried, but didn't receive much help from Adobe...
Any help would be appreciated!

 

[Darth.Titan]

Have you tried repairing permissions?
Applications->Utilities->Disk Utility
Choose your sistem drive on the left and click the repair permissions button

 

[SchroederDoodle]

Yes, I tried repairing permissions.

I don't know if this has anything to do with it or not...
A while back I set the permissions of my Macintosh HD to read/write and selected "apply to enclosed items" in an attempt to try and get all my folders to be read/write. After I did this I was having all kinds of popup warnings about such and such extension not working properly. Also, all my adobe programs wouldn't open and had a similar warning message to the one I'm having now. I don't remember how I resolved that, but eventually I got all those warnings to stop showing up. I also did something with terminal to reset the permissions back to their default... I hope that makes sense.