Paterno

To be aware of something very important and very serious that requires immediate action, but choose to do nothing.

A Paterno is unit of currency equal to 6 million US dollars. Paternos are typically paid in cases of covering up for child rape.

To cultivate the appearance of successful leadership, all the while managing one's organization in a detached--perhaps even negligent--manner that invites malfeasance; to ignore poor and criminal behavior on the part of one's subordinates; to become so captivated in projecting an image of one's own compassion and beneficence, that one loses track of one's own charges and responsibilities.

To turn a blind eye on unspeakable crimes.

v. to paterno: to watch something horrible happen then do nothing about it.

Paternoed (verb, usually past-tense) -- Slang. To poop, to defecate, to move bowels accidentally or in a situation in which it is least desired. To crap oneself, i.e. moving bowels when wearing a garmet. Named for the legendary Penn State head football coach who was forced to leave in the middle of a big game to use the facilities. He returned after halftime wearing different pants and later said only that he had 'flu-like symptoms.'

To be blamed for someone else's crime, even though you told someone about it.