You like tomayto and I like tomahto

Here's something I've been meaning to ask those of you from across the Herring Pond; what's the correct pronunciation of Barack Obama's first name? Is the accent on the first syllable, as in a soldier's billet; Barrack, the way we'd naturally say it over here? Or is the accent on the second syllable, as in Baroque?

Just wondering, in case I ever meet him. It'd be awfully Bad Form to get it wrong.