Caballeros Pobres (Bread Pudding with Cinnamon-Pecan Syrup)

For the cinnamon-pecan syrup, in a medium saucepan combine the water, the 1 cup granulated sugar, the piloncillo, lemon peel, cinnamon, and cloves. Bring mixture to boiling over high heat; reduce heat to medium and simmer, uncovered, until sugars are dissolved and mixture is thickened and syrupy, stirring frequently. Cool for 15 minutes. Strain to remove cinnamon and cloves. Stir in raisins and nuts; set aside (mixture will continue to thicken).

Meanwhile, heat 1/2 inch of oil in a heavy large skillet to 350°F. In a large bowl beat egg whites with an electric mixer on medium-high speed until stiff but not dry. In another bowl, whisk yolks until light and frothy, about 1 minute. Gently fold egg yolks into egg whites.

In a large bowl combine milk, the 2 tablespoons granulated sugar, the rum, and vanilla; stir to dissolve sugar. Dip one bread slice into milk mixture, turning to coat all sides and shaking gently over bowl to remove excess liquid. Dip the bread slice into the egg mixture to coat well, then transfer to the hot skillet; fry bread for 1 minute per side until lightly browned. Transfer fried bread to paper towels. Repeat with remaining bread and coatings, cooking about one-third of the slices at a time and reheatiing oil between batches.

Preheat oven to 350°F. Line the bottom of a 2-quart rectangular baking dish with half of the bread slices. Spoon half of the syrup on top. Repeat with remaining bread slices and syrup. Bake 25 to 30 minutes or until syrup bubbles and begins to caramelize. Allow to cool for 15 minutes before serving.