The ad was part of a segment Oliver did on the dangers of payday loans and how difficult it is to manage what he said is a $9 billion industry.
"For regulators, it's like playing legislative whack-a-mole," Oliver said. "Just when you think you've squashed them down ... they pop-up somewhere else wearing a completely different outfit."
Oliver compared payday loans to Lay's potato chips saying: "You can't have just one and they're terrible for you."
Noting the predatory nature of payday loans, Oliver took matters into his own hands.
"The least we can do is launch a counter-campaign with a celebrity spokesperson of our own to remind people to make sure they explore all their better options first."
Silverman introduced herself and then said: "If you're considering taking out a payday loan, I'd like to tell you about a great alternative. It's called 'Anything Else.'"