Our 97 Maxima had a PS belt failure last night. I installed the new belt along with the ac/alt belt. Now when I started the car is squealed bad and smoke starting coming from that general area? Anyone seen this before? Any ideas what this could be? Please help

 

Belts are loose.

 

Also check to be sure your crank shaft pulley isn't wobbly, if it is it will eat belts.

 

If it's squealing and the belt is smoking, it's more likely that you've got something locked up.
What exactly do you mean by belt 'failure'? Did the ribs strip off, was the belt burned up, or did it just throw the belt?

Is the smoke coming from the AC/Alt belt or the PS belt?