  Instability in the scalar channel of the fermion-antifermion scattering
amplitude in massless QED_3 for number of flavours less than the critical value
128/3\pi^2 is demonstrated. The anomalous dimensions of gauge-invariant
composite operators are determined to O(1/N). Exponentiation of the O(1/N)
infrared logarithm is explicitly demonstrated by evaluating the contribution of
the ladder diagrams.
