We present a Chern-Simons theory of the fractional quantum Hall effect
in which flux attachment is followed by a transformation that effecti
vely attaches the correlation holes. We extract the correlated wave fu
nctions, compute the drift and cyclotron currents (due to inhomogeneou
s density), exhibit the Read operator and operators that create quasip
articles and quasiholes. We show how the bare kinetic energy can get q
uenched and replaced by one due to interactions. We find that for nu =
1/2 the low energy theory has neutral quasiparticles and give the eff
ective Hamiltonian and constraints.