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To be aware of something very important and very serious that requires immediate action, but choose to do nothing.
"Eddie heard someone screaming for help outside his window, but paternoed instead."
by Drboogie July 28, 2012
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A Paterno is unit of currency equal to 6 million US dollars. Paternos are typically paid in cases of covering up for child rape.
"The Roman Catholic Archdiocese of Boston was forced to pay 14 Paternos to victims of child rape by priests in 2003."

"Penn State got fined 10 Paternos for turning a blind eye to child rape on their campus."
by Joe Paterno's family July 23, 2012
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"Hey, I just saw a kid being raped. Should we call the police."
"No way, dude. We've got Paterno this, or else it might splash back on us."
by Nittany Lyin' November 08, 2011
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4
v. to paterno: to watch something horrible happen then do nothing about it.
Jack paternoed me when he watched 5 men burgle me.

Quick sitting there and paternoing, get over here and help me fend off these zombies.
by murakka November 10, 2011
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To be blamed for someone else's crime, even though you told someone about it.
"Man, I didn't even do it! I'm totally being Paterno'd here!"
by J-tard November 23, 2011
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A man that has a really big dick.
New Girlfriend: "Oh my God, you're a Paterno! I've hit jackpot! Thank you God!"
by anonymous March 31, 2004
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