Shearer has called for Cole to be banned from England's World Cup qualifier as punishment for his tweet describing the FA as a 'bunch of t****.'
Shearer said: "I think the FA can put a big statement out here by actually not fining him but actually banning him on Friday against San Marino.
"Because we've seen players fined £50,000, £60,000, £70,000. That's not a deterrent to them.
"Stopping them from playing football will be a deterrent. If they do it quickly - which they haven't done in the case, which has taken 14 months - if they do it in four to five days, I think it puts a big statement out to the rest of the players."