In this Letter we suggest a simple and physically transparent analytical model of the pressure driven turbulent wall-bounded flows at high but finite Reynolds numbers Re. The model gives accurate qualitative description of the profiles of the mean-velocity and Reynolds-stresses (second order correlations of velocity fluctuations) throughout the entire channel or pipe in the wide range of Re, using only three Re-independent parameters. The model sheds light on the long-standing controversy between supporters of the century-old log-law theory of von-K`arm`an and Prandtl and proposers of a newer theory promoting power laws to describe the intermediate region of the mean velocity profile.