MacBook will only start in guest mode

I ran disk repair. Now, when trying to start my late 2008 MacBook Pro, it will only start in Guest mode. When starting with my identity I get white on black text: panic(cpu 1 caller 0xffffff8097hd555): "Process 1 exec of /sbin/launchd failed, errno 2"0/SourseCache/xnu . . ." and a lot more text, including "Mac OS version: Not yet set". I tried starting from my backup where my TimeMachine is stored and I couldn't.
What now?