  A new relation between two-dimensional conformal field theories and
three-dimensional topologically massive gauge theories is found, where the
dynamical nature of the 3d theory is ultimately important.
  It is shown that the those primary states in CFT which have non-unitary
descendants correspond in the 3d theory to supercritical charges and cause
vacuum instability. It is also shown that logarithmic operators separating the
unitary sector from a non-unitary one correspond to an exact zero energy ground
state in which case the 3d Hamiltonian naturally has a Jordan structure.
