Against the backdrop of a nation on the brink of revolution, Uncle Sweetheart (John Goodman) and Nina Veronica (Jessica Lange) are slimy promoters planning a benefit concert. They desire the services of legendary singer Jack Fate (Bob Dylan), and soon Fate is sprung from jail. A rock journalist (played by Jeff Bridges) investigates the concert, attempting to determine just who will benefit. Revolution may be raging outside the arena, but Jack Fate and the benefit concert play on as planned.