What is the meaning of the phrase "Shackled and Drawn" which is a song on the new Bruce Springsteen CD??

Bruce Springsteen's new album Wrecking Ball focuses on characters whose lives were destroyed by the recession. The country-folk stomper "Shackled and Drawn" has lyrics that could have almost come from the Woody Guthrie songbook: "Gambling man rolls the dice, workingman pays the bill/ It's still fat and easy up on banker's hill/ Up on banker's hill, the party's going strong/ Down here below we're shackled and drawn."

http://www.rollingstone.com/music/news/exclusive-stream-bruce-springsteens-new-song-shackled-and-drawn-20120221#ixzz1soxZOwTF

As for an explanation of what the phrase itself means, it is apparently not commonly used, with no direct relevant explanatory links on the web. The image it conjures up for me is similar to this: "Sometimes the guilty would be clapped in irons on the ships deck, positioned there to suffer under the scorching sun or bear the brunt of the whipping wind and rain. Other times, the wrist shackles were replaced with cords of rope and the arms were pulled tightly to a crucifixion position and suspended from the rigging, leaving the victim painfully hanging around for repentance." -from http://www.piratesoul.com/index.php?option=com_content&view=article&id=120:torture-and-punishments&catid=48:pirate-life&Itemid=201

shackled and drawn in this instance its all about debt, being unable to get out of the financial hole (shackled) showing the wearing effects of overwork or care or suffering (drawn)