Yeah, not good:
"Jesse James' Nazi photo has finally surfaced. We've seen his mistress Michelle 'Bombshell' Mcgee wearing a swastika armband, and now Us Weekly has a picture of Jesse doing 'sieg heil' while wearing an SS officer's hat.
'Inside Edition' reports the photo was taken in 2004, while Jesse and Sandra were dating and that sources close to Jesse say he is 'not a neo-Nazi' and that he took the pictures for 'shock value.'"