hoppin john recipe

1 cup dried black-eyed peas (or 2 cans, drained and rinsed) - 4 cups water (if using dried peas) - 4 slices bacon, chopped - 1 medium onion, diced - 1 green bell pepper, diced - 2 cloves garlic, minced - 1 bay leaf - 1/2 teaspoon dried thyme - 1/2 teaspoon cayenne pepper (optional, for heat) - Salt and black pepper to taste - 1 cup long-grain white rice - 2 cups chicken broth (or water) - 1/2 teaspoon salt (for rice) - 2 green onions, chopped (for garnish)