Creamy Egg Chowder

6 slices bacon
½ cup chopped onion
1 can (10 3/4 oz.) condensed cream of potato soup, undiluted
1 can (10 ¾ oz.) condensed cream of chicken soup, undiluted
1 1/3 cups milk
½ teaspoon salt
¼ teaspoon pepper
1 bay leaf
1/8 teaspoon thyme, crushed
8 hard-cooked eggs, sliced
2 cups drained, cooked corn
1 cup drained, cooked peas

In large saucepan over medium heat, cook bacon until crisp. Reserving 2 tablespoons bacon drippings, drain bacon on absorbent paper, crumble and set aside. Cook onion in reserved drippings until tender, but not brown, about 3 to 5 minutes. Add soups, milk, salt, pepper, thyme and bay leaf, stirring until blended. Bring to a boil over medium-high heat, stirring occasionally. Reduce heat and simmer 5 minutes. Meanwhile, reserving 3 egg slices for garnish, chip remaining eggs. Remove bay leaf. Stir in corn, peas and chopped eggs. Heat to serving temperature, stirring occasionally. Pour into 2 quart soup tureen or bowl. Sprinkle reserved bacon around edge of soup. Garnish with reserved egg slices. Serves 6.