What is "Pekidah"?
Radak: It is 'payment' for the evil that they did to Yisrael.
Malbim: It is appointment. The verse depicts that Hashem appoints evil to rule over Bavel, to pay them like their evil.
What does "Tevel" refer to?
Rashi: [Bavel's] land.
Malbim: It is the entire civilization. This is like I wrote (9), that amidst punishing the sinners, Evrah will punish even those who did not sin. The Resha'im are punished for "Avonam".
Which Resha'im are discussed?
Radak: The Kasdim (Babylonians), who did too much evil to Yisrael - "Ani Katzafti Me'at v'Hemah Azru l'Ra'ah" (Zecharyah 1:15).
What is "Ge'on Zedim"?
Radak: They were haughty, and people of Zadon (intentional sin). I will cease their Zadon.
Malbim: It is the pride of sinful tyrants. Hashem hates them; He will cease their power.
What is "Ga'avas Aritzim"?
Malbim: It is the pride of tyrants who did not sin. Hashem hates their pride; He will lower it. The Nimshal is, Bavel's officers and king sinned; Hashem will punish them and cease their kingship. The masses who did not sin, Hashem will lower the pride they had via Nebuchadnetzar's kingship.