time builtin does not work with set -e when a command fails

[Sam Watkins]

Configuration Information [Automatically generated, do not change]:
Machine: x86_64
OS: linux-gnu
Compiler: gcc
Compilation CFLAGS:  -DPROGRAM='bash' -DCONF_HOSTTYPE='x86_64' 
-DCONF_OSTYPE='linux-gnu' -DCONF_MACHTYPE='x86_64-pc-linux-gnu' 
-DCONF_VENDOR='pc' -DLOCALEDIR='/usr/share/locale' -DPACKAGE='bash' -DSHELL 
-DHAVE_CONFIG_H   -I.  -I../bash -I../bash/include -I../bash/lib  
-D_FORTIFY_SOURCE=2 -g -O2 -fstack-protector --param=ssp-buffer-size=4 -Wformat 
-Werror=format-security -Wall
uname output: Linux opal.nipl.net 3.2.0-4-amd64 #1 SMP Debian 3.2.65-1+deb7u2 
x86_64 GNU/Linux
Machine Type: x86_64-pc-linux-gnu

Bash Version: 4.2
Patch Level: 37
Release Status: release

Description:
        The time builtin does not work with set -e when a command fails.
        The "time" builtin should give timing for a command regardless of exit 
status.

        Examples:

        # 1. with set -e, the time builtin is silent for failed commands (this 
is the bug)
        $ bash -ce 'time false'

        # 2. normally the time builtin gives times for failed commands
        $ bash -c 'time false'

        real    0m0.000s
        user    0m0.000s
        sys     0m0.000s

        # 3. the time(1) utility gives times for failed commands with set -e, 
of course
        $ bash -ce 'command time false'
        Command exited with non-zero status 1
        0.00user 0.00system 0:00.00elapsed 0%CPU (0avgtext+0avgdata 
1664maxresident)k
        0inputs+0outputs (0major+150minor)pagefaults 0swaps

Repeat-By:
        $ bash -ce 'time false'