So, about ten minutes ago, I started up my '99 V70 base model, and it made some weird sound in the engine and failed to start, so I tried it again and it started right up. However, the first difference I noticed was the battery icon on the dash, then I noticed that I had no power steering, so I instinctively thought it was the serpentine belt. Popped the hood and saw the belt had managed to jump off of the power steering pump. I also noticed below it something had broken off and was causing it to go loose. Here is an image:

 

Looks like the belt tensioner broke.

 

well apparently, the pulley snapped off of the bracket that holds it, the alternator, the ac compressor and the power steering pump, and that the bracket had a crack in it, making it useless. Wouldn't have discovered the crack unless the bold had snapped in half in the bracket.

 

I wonder if someone cross threaded a screw to begin with. Then maybe that is what cracked the bracket.

 

It makes me wonder if the bracket had cracked when the pulley snapped off or if it was already like that to begin with.

 

Agreed.
That bracket is also a pain to replace. All the accessories have to come off to replace it.