A shark is obviously something that has the capacity to bite you in the ass. A loan shark is someone who will lend you money, assumming you will pay him/her back in a rediciously large amount of intrest. (You borrow $3000, and owe him $300 a month for 2 years)
damnit! I can't get out of this gayass house cause some loan shark is eating up all my money.
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Shoot The Shit means to consume spirits, such as whiskey/vodka etc. with another person.
Rob and I went to shoot the shit with some guy at the bar.
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