A JEEP WITH A BIKE MOUNTED ON A BIKE RACK STOPPED QUICKLY IN FRONT OF ME. I HIT MY BRAKES, BUT QUICKLY LOST BRAKING EFFECTIVENESS AND THE BRAKE PEDAL WENT TO THE FLOOR. I TRIED TO SWERVE, BUT HIT THE REAR OF THE JEEP, DAMAGING THE BIKE AND BIKE RACK. SEVERE DAMAGE TO MY GRILLE, DRIVERS SIDE FRONT FENDER AND HEADLIGHT, AND RADIATOR MOUNT. AFTER EXCHANGING INSURANCE INFORMATION, I NOTICED BRAKE FLUID ON GROUND, BY THE FUEL TANK ON DRIVERS SIDE. LIMPED HOME (ABOUT 2 BLOCKS). NO BRAKES OTHER THAN EMERGENCY BRAKE. SUBSEQUENT INSPECTION REVEALED FAILED BRAKE LINE AND SEVERE RUST ON MOST BRAKE LINES. *TR