Heat your dutch oven on med. heat. Pour olive oil in the pan (just a couple of turns around the pan.
Season your london broil with s&p, garlic powder and onion powder. Sear it on both sides in the oil.
Drop in your bay leaf, sliced peppers and onions.
Dump in the crushed tomatoes and then add hot water into the can (about 1/2 way full to get up any stuck tomatoes and to add a bit of liquid to the pot) Do the same with the paste but fill the shole paste can with hot water to loosen up any stick paste and add more liquid. If using wine, let the tomatoes bubble for a few minutes then add wine.
Let the pot bubble for about an hour or so over med. heat. Then reduce it to low and just let it simmer for about an hour and a half or so. Add in muchrooms and cook additional time just to let the mushrooms cook down. Serve with pasta or rice. The meat just breaks apart with a spoon.