Cramer's 'Mad Money' Recap: The Worst Is Over (Final)

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"What people think about the market matters," was Jim Cramer's takeaway from today's rally.

He told the viewers of his "Mad Money" TV show Monday people will be seeing the markets in a whole new light as of today.

Back on Sept. 11, 2008, Cramer mentioned seven "black holes" in the market that were huge problems that threatened to consume everything in their path until they were resolved. Cramer said the markets would not bottom until all seven of these holes were filled. Today, he got his wish.

Cramer said the seven black holes involved Fannie Mae (FNM Quote) and Freddie Mac (FRE Quote), Lehman Brothers, Washington Mutual, AIG (AIG Quote), Citigroup (C Quote), Ford (F Quote) and General Motors (GM Quote).

Last year, all of these troubles seemed like they'd never end, he said. But today, with the bankruptcy of GM, all seven have been put to rest, he said.

Cramer said investors are desperate to get back into the markets and recover their huge losses, but with these black holes still lingering, there was enough doubt to hold them back.

"As of today," he said, "the worst is behind us." Cramer said it didn't matter how these holes were, just that they got filled.