Arianna Discusses 'Third World America' on 'Tavis Smiley' (VIDEO)

09/21/2010 05:52 pm ET | Updated May 25, 2011

Arianna Huffington appeared on "Tavis Smiley" to discuss why Elizabeth Warren's appointment as the interim leader of the Consumer Financial Protection Bureau is a step in the right direction when it comes to fixing the economic problems she has outlined in her new book, "Third World America."

"I am very optimistic about [Warren's] appointment," Arianna told Smiley. "She's not the permanent head but the interim head, which shows recognition for the urgency of the problem. Instead of going through a lengthy confirmation process she can start working right now."

Arianna praised President Obama for appointing Warren.

"She's also going to be a direct adviser to the President-- this being against the objections of his economic adviser Larry Summers and Treasury Secretary Tim Geithner. Finally he is doing something against what they want, and that is really good. One of the problems with the White House is listening to what Summers and Geither say which is very Wall Street-centric."