They are also beefing up their distressed-debt and bankruptcy teams, a source of profit that should mitigate any pain from a rise in defaults and tougher debt markets.

ECONOMIST: American investment banks: Streets ahead of the rest | The

"Many of these expressions have served to greatly mitigate the pain and trauma of those worst affected, especially the children, who become the most vulnerable in these crises, " she said.

BBC: Papers express Salvador's renewed agony

"Unfortunately, their positive impact on competitiveness, employment and activity will take time to materialize and will do little to mitigate economic pain in the short term, " said Herve Goulletquer, an analyst at Credit Agricole CIB.

NPR: Eurozone Recession Deepens As Germany Falters

Finally, we have energy prices falling, rather than rising, which is helping to mute and mitigate the pain of the loss of income many are experiencing, and this is something we didn't even have a year ago.

CNN: Diane Swonk: Consumer confidence

Tax time will never be pleasant, but making form preparation easier, understanding better how government spending buys useful goods and services, and re-examining the tax expenditures in our tax code at least can mitigate our tax pain.

CNN: 3 ways to relieve our tax hangovers

G7, the goal of a loan now should be to mitigate Argentina's pain, which has seen living standards fall precipitously and millions drop into poverty.

ECONOMIST: The IMF and Argentina