Paclitaxel and Bryostatin 1 in Treating Patients With Metastatic Prostate Cancer

DISEASE CHARACTERISTICS: * Histologically confirmed metastatic adenocarcinoma of the prostate that failed first- or second-line hormonal therapy (e.g., gonadal androgen suppression \[orchiectomy or luteinizing hormone-releasing hormone\] with or without antiandrogens) * Failure on hormonal therapy is defined by 1 of the following criteria: * Biochemical progression (after withdrawal of antiandrogens), documented by 3 rising PSA values, each value measured at least 2 weeks apart, with the last measurement being at least 25% of the nadir achieved while on hormonal therapy and with an increase in the absolute value by at least 5 ng/mL * Measurable disease progression, defined by an increase in the sum of the products of the perpendicular diameters of any measurable lesion(s) by at least 25% * Bone only progression allowed only with concurrent biochemical progression * Castrate levels of testosterone (no greater than 50 ng/dL) * No clinical signs/symptoms suggesting CNS metastases PATIENT CHARACTERISTICS: Age * 18 and over Performance status * ECOG 0-1 Life expectancy * More than 6 months Hematopoietic * WBC at least 3,000/mm\^3 * Absolute granulocyte count at least 1,500/mm\^3 * Platelet count at least 100,000/mm\^3 Hepatic * Bilirubin no greater than 1.5 times upper limit of normal (ULN) * AST/ALT no greater than 2.5 times ULN Renal * Creatinine no greater than 1.5 times ULN * Calcium no greater than ULN Cardiovascular * No uncontrolled or severe cardiovascular disease * No myocardial infarction within the past 6 months * No congestive heart failure * No angina pectoris * No active thromboembolic events within the past 3 months (e.g., deep venous thrombosis or cerebrovascular accident) Other * No other serious medical or psychiatric illness * No active infection * No dementia or significantly altered mental status * No prior or concurrent grade 1 or greater peripheral neuropathy * No other prior or concurrent malignancy within the past 5 years except curatively treated nonmelanoma skin cancer * HIV negative * Fertile patients must use effective contraception PRIOR CONCURRENT THERAPY: Chemotherapy * No prior chemotherapy (including paclitaxel) Endocrine therapy * At least 4 weeks since prior steroids or megestrol Radiotherapy * At least 4 weeks since prior radiotherapy to bone lesions Other * No other concurrent investigational therapy