1. Cook bacon in a large saucepan over medium heat 6 minutes or until crisp. Remove bacon from pan with a slotted spoon, reserving drippings.
2. Thinly slice green onions; reserve 2 tablespoons dark green parts. Add white and light green onion parts, thyme, and garlic to drippings in pan; sauté 2 minutes. Weigh or lightly spoon flour into a dry measuring cup; level with a knife. Sprinkle over onion mixture; cook 1 minute, stirring constantly. Stir in milk, stock, and bay leaf; bring to a boil. Reduce heat to medium, and cook 2 minutes. Stir in salt, black pepper, red pepper, shrimp, and corn; simmer 4 minutes or until shrimp are done. Discard bay leaf. Divide soup evenly among 4 bowls; sprinkle with bacon and reserved 2 tablespoons green onions.