Thoroughly rinse and dry the squid rings and tentacles on cloth towels. In a la rge heavy pot heat 2 tablespoons olive oil over moderate heat. Cook the onion u ntil translucent. Add the garlic and thyme and cook for 1 minute. Add the squid and cook for 2 m inutes. Add the tomatoes and wine and bring the mixture to a simmer. Cover the pot and leave barely at a simmer over low heat for 45 minutes or transfer the p ot, once the liquid has come to a simmer, to a 300 degree oven and bake for 45 minutes to 1 hour