Nope.

It is also true of British and Australian people too. When we insult our friends it's a sign of endearment. I actually had an almost-argument with an American girl about this who thought it was a vile way of communicating with your friends. All I could really say was "Sorry dude that's just the way we like it!".

EDIT: Semi related, when a very close (female) friend of ours came out we all began cracking lesbian jokes at her. She since told my gf that she was very happy we did, because some other folk had made a big deal about it and been really serious, whereas what we did showed that we didn't really give a crap and just accepted her anyway. She is also EXTREMELY good looking so it's good fun to comment on how rugged and manly she is looking today. Unless you're familiar with that culture I can see why it might appear nasty but is unfair for it to be labelled as such by someone who "just doesn't get it".