It takes some political derring-do to launch a presidential campaign from a town named Waterloo.

After all, in another time, on another continent, that was the locale of Napoleon’s final defeat, from which sprang the term “met his Waterloo.”

Tea Party conservative Michele Bachmann chose Waterloo, Iowa, her birthplace, to announce a run for the Republican presidential nomination. And she wasted no time in going on the offensive.

“Make no mistake about it, Barack Obama will be a one-term president,” Bachmann said.

At the moment her star is rising — a poll of Republicans in Iowa showed her almost even with Mitt Romney, and her strong performance at the New Hampshire debate got people to do a double-take.