In a large bowl, mix together eggs, sugars and nutmeg. Add melted oleo and cream. Mix well. Stir in bread and raisins and let stand 15 minutes, then pour into well-greased deep pan or casserole dish. Bake in 375° oven for 50 to 60 minutes, until top is golden brown.

Butter Vanilla Sauce: Combine all ingredients in a double-boiler. Cook over medium heat, stirring constantly until thickened. Serve over bread pudding.