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Solve the following problem using Python, implementing the functions described below, one line at a time
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Description:
 def initialize_settings(self, sender):
 """ Initializes ReadTimeParser with configuration values set by the site author. """

        try:
            self.initialized = True

            settings_content_types = sender.settings.get(
                'READTIME_CONTENT_SUPPORT', self.content_type_supported)
            self._set_supported_content_type(settings_content_types)

            lang_settings = sender.settings.get(
                'READTIME_WPM', self.lang_settings)
            self._set_lang_settings(lang_settings)
        except Exception as e:
            raise Exception("ReadTime Plugin: %s" % str(e))