import sys

def process(thing):
    if thing[1] == 0:
        raise ValueError('thing[1] {} is zero'.format(thing))

arguments = [(1, 0), (2, 3), (3, 0)]

error = None
for arg in arguments:
    try:
        process(arg)
    except ValueError, err:
        if not error:
            error = sys.exc_info()
if error:
    raise error[0], error[1], error[2]