fan loose, is it the clutch?

[mshnryman]

I have an '86 300E w124, and yesterday the fan went crazy on me.

When I looked under the hood, there were metal shavings all around as the fan clutch pulley is loose and it is grinding against the crankshaft pulley. At first I thought it was the water pump, b/c even the screw is called the "fan clutch to water pump" screw, but the water pump is on another pulley altogether. My guess is that it's something w/ the fan clutch (unless the screw is just loose, which is doubtful).

What thinks you? Would a problem w/ the fan clutch cause it to be loose like that? And if so, what am I going to need to fix it besides the fan clutch?

Thank you!