Using Python 2.7.3 on Linux. Here is a shell session verbatim.
>>> f = open("feed.xml")
>>> text = f.read()
>>> import re
>>> regexp1 = re.compile(r'</?item>')
>>> regexp2 = re.compile(r'<item>.*</item>')
>>> regexp1.findall(text)
['<item>', '</item>', '<item>', '</item>', '<item>', '</item>', '<item>', '</item>']
>>> regexp2.findall(text)
[]
Is this a bug, or is there something I'm not understanding about Python regular expressions?