Fenretinide in Treating Patients With Refractory or Relapsed Hematologic Cancer

DISEASE CHARACTERISTICS: * Histologically or cytologically confirmed diagnosis of 1 of the following hematologic malignancies: * Non-Hodgkin's lymphoma (NHL) * Hodgkin's lymphoma * Multiple myeloma * Acute lymphoblastic leukemia * Acute myeloid leukemia * Chronic hematologic malignancy with a poor prognosis (e.g., failed 3 prior standard therapies), including any of the following: * Chronic lymphocytic leukemia * Chronic myelogenous leukemia * Indolent NHL * Myeloproliferative disorders * Refractory or relapsed disease, as defined by 1 of the following: * Resistant to standard therapy for refractory or relapsed disease * Progressed after standard therapy for advanced disease * No effective treatment exists * Measurable or evaluable disease * No active CNS disease * Previously treated leptomeningeal disease or brain metastases allowed provided there is no evidence of remaining cancer by positron-emission tomography, MRI, or spinal fluid cytology PATIENT CHARACTERISTICS: Age * 18 and over Performance status * ECOG 0-2 Life expectancy * At least 3 months Hematopoietic * Absolute neutrophil count ≥ 1,500/mm\^3 (unless due to bone marrow involvement of disease) * Platelet count ≥ 75,000/mm\^3 (unless due to bone marrow involvement of disease) * Hemoglobin ≥ 8.0 g/dL (transfusion allowed) * No coagulation disorders Hepatic * AST and ALT \< 2.5 times upper limit of normal (ULN) (≤ 5 times ULN for patients with liver metastasis) * Bilirubin ≤ 1.5 times ULN Renal * Creatinine ≤ 1.5 times ULN Cardiovascular * No major cardiovascular disease Pulmonary * No major respiratory disease Other * Not pregnant or nursing * Negative pregnancy test * Fertile patients must use effective double-method contraception prior to study entry, during study, and for at least 6 months after study participation * No uncontrolled systemic infection * No uncontrolled hypertriglyceridemia (i.e., triglyceride level \> 500 mg/dL) * No known HIV positivity * No known allergy to egg products * No known familial hyperlipidemia disorders * No previously undiscovered hypertriglyceridemia * No poorly controlled diabetes PRIOR CONCURRENT THERAPY: Biologic therapy * Not specified Chemotherapy * More than 2 weeks since prior chemotherapy except hydroxyurea * No concurrent hydroxyurea during study drug administration * No other concurrent anticancer chemotherapy Endocrine therapy * No concurrent hormone-ablative agents * No concurrent steroids * No concurrent tamoxifen or any of its analogues Radiotherapy * No prior cranial radiotherapy * More than 2 weeks since prior radiotherapy Surgery * More than 20 days since prior surgery except for biopsy Other * Recovered from all prior therapy * More than 2 weeks since prior investigational agents * No other concurrent investigational agents * No other concurrent antineoplastic therapy * No other concurrent antioxidants * No concurrent herbal or other alternative therapies * No concurrent vitamin supplements (e.g., vitamin A, ascorbic acid, or vitamin E) * Standard dose multivitamin allowed * No other concurrent medications that may act as modulators of intracellular ceramide levels or ceramide cytotoxicity, sphingolipid transport, or p-glycoprotein or multidrug resistance protein 1 (MRP1) drug/lipid transporters, including any of the following: * Cyclosporine or any of its analogues * Verapamil * Ketoconazole * Chlorpromazine * Mifepristone * Indomethacin * Sulfinpyrazone * No concurrent medications that may cause pseudotumor cerebri, including any of the following: * Tetracycline * Nalidixic acid * Nitrofurantoin * Phenytoin * Sulfonamides * Lithium * Amiodarone * No concurrent medication to control hypertriglyceridemia