Drain the beans and set aside. In a large stock pot, heat the oil and saut the onion, celery, carrot, red and green peppers and garlic until soft, about 5 minutes. Add the broth, tomatoes, tomato paste, thyme, bay leaf, red wine and beans. (If using canned beans, add them about 10 minutes before serving the soup and heat them through.)
Cook the sausages in a skillet on medium-high heat, turning often until just browned. Pour off the fat. Remove and slice the sausages and put them into the soup. Bring the soup to a boil, then lower the heat and simmer for at least an hour, partially covered. Salt and pepper to taste before serving.