WordPress Inserts / around quotes in comments field

When I edit a WordPress comment (from the WordPress admin area), it is automatically inserting diagonals before and after any single or double quotes.

For example, I live in an \”ivory tower\”

The more times I try to edit and approve the comment, the more \\\ that get added, e.g., \\\\”ivory tower\\\\”

I assume this has something to do with PHP and how it sees the quotes, since you usually need to use \ before quotes so they aren’t interpreted by PHP – If I remember correctly

Any suggestions at where I should make this change?

I’m using a modified version of the Blix template, running WordPress v. 2.0.3 on Linux/Apache box running PHP 4.3.11.

It only seems to be doing this under the comments area and not for main blog postings. It is adding // to the name and comment fields.