First, BlackStone is NOT BlackRock!!!
Second, being the largest shareholder as a fund manager does NOT mean you own the company. In some cases they don’t even have a seat on the board. For example, Bank of America’s largest shareholder is Berkshire yet you claim it is own by one of these two.
Do fund managers and their institutions have too much control of client investments? Yes. Do they own the bank’s technically NO. They manage client funds and act on behalf of their clients. Furthermore, there are many institutional investors that have large interests in the companies you claim are owned by these two institutions.
Bikkis quote looks just about right. Fool!