1. Cook bacon in large saucepan until crisp, about 5 minutes. Remove bacon, reserve drippings in skillet. Add potatoes, shallots and flour to drippings and sauté 5 minutes. Add clam juice and simmer until potatoes are tender.
2. Add milk, cayenne, and salt and return to a simmer. Add seafood and cook just until cooked through, about 7 minutes. Stir in crabmeat and parsley and heat through. Serve with bacon on top and oyster crackers.