Question on PF with the high nature of the rake

[Jinx]

I played some 4/8 limit, and the blind structure was to take the big blind. Let's say you're in a 9 handed game, and you're dealt AK in the button. Everyone folds to you, and the blinds are semi loose. Do you raise, call, or fold here? Is folding really that bad considering the horrible pot odds you're getting?