Bring milk to a boil to scalding.
In a bowl beat your eggs.
Stir in your sugar and beat.
Add scalded milk and mix thoroughly.
Break the bread into small pieces and add to milk mixture.
Add vanilla and raisins. Stir gently.
Pour into greased casserole dish and sprinkle nutmeg over the top.
Cook at 350 degrees for 20-25 minutes, until puffed and browned.
Make your sauce by making your vanilla pudding as directed on the package, except you will add an extra 1/2 cup more of milk than the package calls for.
Pour sauce over bread pudding and serve.