object tag based placeholder images not working in ie

I was trying to make a placeholder image for an image called using the tag slug like so:

<?php
if ( is_tag() ) {
$term_id = get_query_var('tag_id');
$taxonomy = 'post_tag';
$args ='include=' . $term_id;
$terms = get_terms( $taxonomy, $args );
echo '
  <OBJECT data="http://www.tradereadingorder.com/character-image/' . $terms[0]->slug . '.jpg" type="image/jpg"><!-- Else, try the 404 image -->
    <OBJECT data="http://www.tradereadingorder.com/404.jpg" type="image/jpg">
    </OBJECT> </OBJECT>';
}
?>

however this method doesn’t work in IE. It just shows a blank tiny image box.

Here’s a link where it’s actually showing the correct image (the only one that works so far)

http://www.tradereadingorder.com/character/alfred-pennyworth/

and here’s one where it’s supposed to show a placeholder:

http://www.tradereadingorder.com/character/elongated-man/

Any advice for how to get this method to work, or an alternative for calling the 404 image? Or any other placeholder type image?