Sort of, but it's the wrong argument.
On modern cars most of the weight is on the front, which means there is more load on the front tyres, which keeps them well stuck to the road. The rears on the other hand have very little load, so will start to slide with very little provocation.
For the majority of drivers a gentle understeer is much easier to control (take foot off gas, and turn a bit harder), than a snap oversteer (apply gas and steer the wrong way). Some of the people here like oversteer, and are experienced enough to control it, but the majority of us aren't.
Other reasons the tyre manufacturers give for putting the best tyres on the rear:
Wear - because the rears wear slowly, you end up with very old and crap rubber on the back, leading to reduced grip and greater chance of blowout.
Blowout - if you didn't see the Tiff Nedell demonstration on Fifth Gear, go and find it. He showed that he could control a front blowout, but span the car every time he had a rear blowout. It's the rear tyres that are keeping you in a stable line through the caroner, and are far more important than you think.
Aquaplaning - with less weight on the rear tyres you need more tread to stop them aquaplaning. During cornering all four tyres take a different line, so that all four need to sweep the same amount of water.
Don't take my word for it. Use Google. Go and find the advice from the tyre manufacturers. They know far more about tyres than any of us here.
Simon.