Grease a 9" x 13" baking dish with butter. Add bread cubes.
In a large bowl, beat eggs until frothy. Add sugar and beat well. Add cinnamon, nutmeg and vanilla, mixing well. Add milk, mix well.
Pour egg mixture over bread cubes and sprinkle with raisins.
Press down lightly until cubes are submerged in the milk mixture.
If mixture looks dry add more milk until bread cubes are submerged.
Let sit 1 hour or overnight until the milk mixture is well absorbed.
Bake @ 350 degrees for 1 hr., cool on rack. Do not overbake.
In a 2 qt. saucepan, combine butter and sugar over medium heat, stirring constantly.
Add 1 cup whipped cream; heat and stir together. Add bourbon; continue to heat and stir until well mixed.
Serve bread pudding in individual dessert dishes and top with bourbon sauce.