No, that isn’t shorthand for “owned” although that certainly applies, too. No, it’s shorthand for “pawned” which will shortly describe Ken Lewis’ big-screen TV. You see, it turns out that he has been working for free in his final year at Bank of America, but he just found out about that.

The Department of the Treasury’s pay czar and HBIC of party-poopin’ Ken Feinberg “suggested” to Kennay that he should maybe consider 2009 a year in which he worked for charity. We all know how susceptible Lewis is to suggestion, especially when someone from Treasury is doing the suggesting. After agreeing on these terms, Feinberg then snapped his fingers and laughed for ten minutes as a hypnotized Kennay began clucking like a chicken.

Kennay really has no scrap left in him at all:

[$BAC spokesman Bob] Stickler added that Lewis “felt it was not in the best interest of Bank of America or him to get into a dispute with the pay master.”

Really? Breaking news, Kennay: YOU ARE QUITTING. No one can use your job as leverage against you anymore. You’re going to retire after this, live in a giant house with hot co-eds or maybe some youthful Thai boys to pleasure you, if that’s what you’re into, and never want for anything for the rest of your life. Man up and fight this! I mean, at this point, what do you have left to lose?

Lewis, who announced last month that he will retire at the year’s end, will still have $53 million in pension benefits waiting for him. The outgoing chief will also have other stock awards and deferred compensation for a total $69 million payout, said Stickler.

Oh. That’s certainly something to lose. Nevermind that Feinberg does not have the authority to take back anything awarded prior to this year, which means Lewis’ epic retirement isn’t under his jurisdiction. But good grief, if Kennay’s going to cave this easily on his 2009 salary, who’s to say he won’t tearfully cut a check for the amount of his retirement as soon as Feinberg arches an eyebrow in Lewis’ direction?