I've checked the XML source, and <ul> and <li> are formatted exactly as you'd expect. However, when the blog containing the bulleted list is published, instead of this:
- a;sldkfja;lsdkfj
- asd;lfka;lsdfja;lsdfj
- as;ldfkja;lsdkfja
... we see this:
a;sldkfja;lsdkfj
asd;lfka;lsdfja;lsdfj
as;ldfkja;lsdkfja