Python and Quotes - how?

More from Python interpreter:

>>> '"Isn\'t," she said.'
'"Isn\'t," she said.'

Does it mean there is no way to have both single and double quotes in a Python literal???

Update: it seems to be an interpreter bug:

result = '"Isn\'t," she said.'
print result

would produce the expected

"Isn't," she said.

after all :)