Heat the olive oil in a frying pan over medium heat and brown the beef, breaking it apart as you go, for approximately 7 minutes. Drain off excess grease and set aside.
Pour rinsed beans into a 6-quart slow cooker. Add the cooked beef, onion, garlic, chili powder, green chiles, tomato paste, diced tomatoes, and bouillon cubes. Add a few drops of hot sauce.
Add broth and water, and give it a quick stir. Put the lid on the slow cooker.
Cook on high for 4 1/2 to 5 1/2 hours or on low for 8 1/2 to 9 1/2 hours.
Remove the lid during final 30 minutes of cooking time to get a thicker consistency.