  We present new insights about accretion and ejection physics based on joint
RXTE/Chandra HETGS studies of rapid X-ray variability in GRS 1915+105. For the
first time, with fast phase-resolved spectroscopy of the rho state, we are able
to show that changes in the broadband X-ray spectrum (RXTE) on timescales of
seconds are associated with measurable changes in absorption lines (Chandra
HETGS) from the accretion disk wind. Additionally, we make a direct detection
of material evaporating from the radiation-pressure-dominated inner disk. Our
X-ray data thus reveal the black hole as it ejects a portion of the inner
accretion flow and then drives a wind from the outer disk, all in a bizarre
cycle that lasts fewer than 60 seconds but can repeat for weeks. We find that
the accretion disk wind may be sufficiently massive to play an active role in
GRS 1915+105, not only in quenching the jet on long timescales, but also in
possibly producing or facilitating transitions between classes of X-ray
variability.
