In a large bowl, soak bread in milk. Add sugar, raisins and vanilla. Add eggs. Mix lightly. Place in well-buttered baking dish. Bake at 375 degrees for 40-45 minutes.
The Famous Amaretto Sauce Topping
1 stick butter (unsalted)
1 cup powdered sugar
1/4-1/2 cup Amaretto
1 egg yolk
Over low heat, melt butter and sugar together, stirring constantly. Add Amaretto and egg yolk. Heat slowly for one or two minutes to set the egg. Pour sauce over bread pudding.