Potato Cheddar Chowder

Name: Potato-Cheddar Chowder
Ingredients: 3 slices of bacon, cut into 1/2 pieces; 3 tablespoons butter; 1 onion, chopped; 1 teaspoon fresh oregano or fresh thyme; 1 1/2 teaspoons dry mustard; 2 pounds Idaho (russet) or LaSoda (red) potatoes in 3/4 cubes; 1/2 red bell pepper in 1/2 dice; 3 cups chicken broth; 1 1/2 cups heavy cream; 2 cups good cheddar, grated; Dash salt & pepper