Beagle-XM Rev C - wired ethernet without switch form u-boot


I was wondering what it takes to connect the ethernet port of a beagle-
xm directly (without a switch) to a PC and use it from u-boot.

So far I tried direct connections with straight and crossover cables
without success.
As soon as I put a switch in between everything works as expected.

Here is what I do with U-Boot 2011.12 mainline with a switch attached:

OMAP3 # dcache off
Data (writethrough) Cache is OFF
OMAP3 # setenv usbethaddr 0:0:1:2:3:4
OMAP3 # setenv ipaddr; setenv serverip; setenv netmask; usb start
(Re)start USB...
USB: Register 1313 NbrPorts 3
scanning bus for devices... 3 USB Device(s) found
       scanning bus for storage devices... 0 Storage Device(s) found
       scanning bus for ethernet devices... 1 Ethernet Device(s) found
OMAP3 # ping
Waiting for Ethernet connection... done.
Using sms0 device
host is alive

Please advise.