Error when installing videocache with python setup.py install

CACHE-SERVER:/tmp/temp/videocache-1.8 # python setup.py install
Traceback (most recent call last):
File "setup.py", line 23, in
from videocache.config import readMainConfig, readStartupConfig
File "/tmp/temp/videocache-1.8/videocache/config.py", line 30, in
from iniparse.compat import NoSectionError, NoOptionError, ConfigParser
ImportError: No module named iniparse.compat

CACHE-SERVER:/tmp/temp/videocache-1.8 #