Melt butter in medium size skillet.
Tear bread into pieces and spread on bottom of skillet.
Beat eggs and stir in sugar, salt, warmed and vanilla. Sprinkle raisins over bread and pour egg mixture over all.
Cover and cook over very low heat for 20 minutes.
Test for doneness by inserting a knife in the center. Pudding is done when the knife comes out clean.
Allow to cool in the skillet.
Prepare vanilla sauce while pudding cools.
Combine cornstarch and sugar in a small saucepan. Gradually add water, stirring well.
Cook until thick and clear, stirring constantly.
Add butter and vanilla, stirring until margarine melts.
Drizzle over individual servings of bread pudding.