Tips on reading data into flash from an xml file please?!

hi guys

I'm reading in nodes from an xml file into flash.
A node can consist of html code and various subnodes

here is an example

<fulltext>
<p>once upon a time there was a
<b>bear</b></p><smallimage>bear.jpg</smallimage>
<p>this bear was <i>huge</i></p>
</fulltext>

I need to read this data into flash and then make it editable, in a visible format.
Can anyone give me a few tips on how to read in this data into textfields.

Particular problems i'm having include once i've read in the node above for example, how do i display the text in a textarea with the html code working e.g. showing bold, and how do i extract out the <smallimage> node and run a loadMovie command to display the .jpeg.


Any suggestions, tips and ideas would be really appreciated :-)

Many thanks for any responses.