Crab and Cornmeal Stew

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1/4 cup Spanish olive oil

2 medium onions, finely chopped

2 large red bell peppers, stemmed, seeded, and finely chopped

6 cloves garlic, finely chopped

1 tablespoon ground cumin

2 teaspoons paprika

6 canned plum tomatoes, drained and coarsely chopped

1/2 cup drained and chopped pimentos

1 bay leaf

2 tablespoons red wine vinegar

3 dashes Tabasco

1/2 cup dry sherry

1/2 cup clam juice

1 teaspoon salt

2 pounds fresh lump crab meat, picked over

1 1/2 cups coarsely ground yellow cornmeal

9 cups cold water

5 tablespoons olive oil

2 teaspoons salt

Freshly ground black pepper