Place bread in a medium mixing bowl and cover with water. Soak bread 3 to 5 minutes. In small batches, remove bread in handfuls from the water and wring it out with out mashing or tearing bread. You do not want wet bread, so wring it carefully.
Combine tomatoes with onions and basil in a second bowl and dress with vinegar, oil, salt and pepper. Add bread to tomato salad and combine. Adjust seasonings and serve.