Heat a large pot of water to boil for the pasta.

Salt the water and cook the pasta to al dente.

Meanwhile, heat a large skillet with a drizzle of extra virgin olive oil over medium to medium high heat.

Add the bacon to the pan and cook for a few minutes to crisp the bacon and render its fat.

Scrape the kernels off of the ears of corn.

Add 3/4 of the kernels and liquids to the bacon.

Add the shallots and bell pepper to the corn mixture and season with salt and pepper.

Cook until tender, 5 or 6 minutes.

Add the remaining corn to a food processor or blender, and puree with the cream.

Stir in the thyme and the stock or wine into the corn mixture in the skillet.

Reduce for a minute, then stir in the corn-cream mixture.

Reduce the heat to a simmer.

Cook for 3 or 4 minutes, stirring frequently, to thicken.

Add the hot sauce or cayenne pepper and adjust any salt and pepper at this time.

Drain the pasta, then toss with the sauce, parsley, and a couple handfuls of cheese, about 1/2 cup.

Top with the basil or tarragon and pass the remaining cheese at the table.