Originally, jail lingo for a subservient, cuckolded inmate indebted to another for protection and in return obliged to perform favors both of a sexual nature and otherwise.
The term came to refer to the music and culture described above as young musicians and people in the late 70's and early eighties felt alienated by the incorporation of formerly anti-estaplishment hippie culture.
"Listen fish I didn't make sure Big Mink didn't shiv ya at mess for nothing. So now you better put on these pantyhose and get yo knees dirty right quick cuz you MY punk now, Betty..."
Anti folk emissaries, microgiants of the New York squatter trash art variety. Super heroes of anarcho-filth and no stupenagles fur shoere dufus ys making batter music than you or at the momant thenks...yep