jQuery: Placeholder Fallback For Modernizer

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//Placeholders fallback
$(function() {
    // check placeholder browser support
    if (!Modernizr.input.placeholder) {     
        // set placeholder values
        $(this).find('[placeholder]').each(function() { 
        	if ($(this).val() == '') { $(this).val( $(this).attr('placeholder') ); }
        });
        // focus and blur of placeholders
        $('[placeholder]').focus(function() {
            if ($(this).val() == $(this).attr('placeholder')) {
                $(this).val('');
                $(this).removeClass('placeholder');
            }
        }).blur(function() {
            if ($(this).val() == '' || $(this).val() == $(this).attr('placeholder')) {
                $(this).val($(this).attr('placeholder'));
                $(this).addClass('placeholder');
            }
        });         
        // remove placeholders on submit
        $('[placeholder]').closest('form').submit(function() {
            $(this).find('[placeholder]').each(function() {
                if ($(this).val() == $(this).attr('placeholder')) {
                    $(this).val('');
                }
            })
        });
    }
});