Jamieson, Fausset and Brown on Psalms 105:22

22. To bind--Not literally bind; but exercise over them absolute control, as the parallel in the second clause shows; also Ge 41:40, 44, in which not literal fettering, but commanding obedience, is spoken of. It refers to Psa 105:18. The soul that was once bound itself now binds others, even princes. The same moral binding is assigned to the saints (Psa 149:8).

teach ... senators wisdom--the ground of his exaltation by Pharaoh was his wisdom (Ge 41:39); namely, in state policy, and ordering well a kingdom.