What are the real dangers of shared hosting ?

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Can't find more appropriate groups....maybe the Unix security one or
thanks for any help

Anyway,often people talk about the dangers in having a website on a shared
hosting system. Why is it so dangerous ? Is it that if the host supports telnet
or ssh  it is theoretically possible to see browse every one's home direcotry
 and grab and alter files ?

Is it possible to trick a script on websiteA into revealing info about website
B (both are on the same host) ?

Please can someone give some examples and scenarios of these and other dangers
associated with shared hosting thanks



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