Combine first 4 ingredients; stir in butter and whipping cream. Gently stir in bread and raisins. Pour into a lightly greased 2-quart soufflé or deep baking dish.
Bake at 375° for 50 to 55 minutes, shielding with aluminum foil after 30 minutes to prevent excessive browning. Let pudding stand 10 minutes before serving warm with Vanilla Sauce.