Willie Dynamite is a pimp who operates in New York City. Willie was a big success as a pimp, but now, just as fast as he rose to the top, he has hit bottom. A former prostitute who has become a social worker tries to get Willie to clean up his life while it is still possible.

1930s in New York – The famous singer Fanny Brice has divorced her first husband Nicky Arnstein. During the depression she has trouble finding work as an artist but meets Billy Rose, a newcomer who writes lyrics and owns his own nightclub.