To make the sauce, heat oil in a medium saucepan over medium heat. Add shallots and garlic and saute 2 minutes. Add tomatoes, oregano and black pepper and bring mixture to a boil. Reduce heat, partially cover and simmer 10 minutes. Remove from heat and stir in basil.
Meanwhile, arrange bread slices on a baking sheet. Bake 10 minutes, until golden brown. Cook pasta according to package directions. Drain and set aside.
To make the tapenade, in a food processor, combine olives, capers and garlic. Process until almost smooth.
Transfer spaghetti to individual bowls and spoon tomato sauce over top. Top toasted bread with tapenade and serve on the side.