Nanny State Credit Card Interest Rate

Many holders of credit cards are complaining to the government about the exorbitant interest rate charged on credit cards.

Solution 1 is for the government to act as nanny "..stronger regulation to prevent banks from charging unfair credit card interest rates and transaction fees" [ Jack Layton, National Post http://www.financialpost.com/story.html?id=1217475 ]

Solution 2 is for the government to act as a source of information "..pay off your credit card each month and avoid interest". Further information "if you only buy on your card what you can pay for next month then you have taken an advance step to avoid the problem".

I view Solution 2 as preferable.
Do we really need a nanny government?

Special thanks to Professor Louigi Karl McBalfour