Here are several articles and opinions in response to the Vanity Fair article about Iceland's financial collapse (which makes some pretty hefty and ill-informed claims).
The Vanity Fair article: Wall Street on the Tundra
Jonas Moody (an American who has been living in Iceland for 7 years - writes for the Iceland Review, an English-language magazine about Iceland) in response to the Vanity Fair article printed in the New York Magazine: Vanity Fair's Fishy Tales from Iceland
The Iceland Weather Report (a blog about Iceland) details her experience with a reporter who is looking for "answers."
Another enraged Icelandophile's response to the Vanity Fair article on Counter Punch: Insolents Abroad by Gregory Burris
The March 9 issue of The New Yorker featured a well-researched article called "Letter from Reykjavik: Lost" by Ian Parker (not in response to Vanity Fair, but a good article about the kreppa). You can find the abstract here but to read the full article you have to be registered.