Panderism is a frequent word in politics. Basically it's the act of pandering. Funny you should ask for the context ,
the exact quote is from Stephen Colbert when he interviewed Pussy Riot: "I don't know the Russian word for panderism, but well done!"
He says it after the Pussy Riot members thanked the audience for their support and received an ovation.

Pussy Riot - Pussy Riot Pt. 2 - The Colbert Report - Video Clip | Comedy Central

I provided the link of the second part of the interview where he mentions it somewhere in the beginning. The translator is shown to translate everything (especially in the first part) but she wasn't shown translating this comment and some others (maybe to save on time).