Hi blueboron,
Porridge is often recommended as something that can help to reduce triglycerides, the part of cholesterol that does the most damage. However, around 85% of your body's triglyceride is made by the liver, and the liver makes it from carbohydrate. Porridge is made from oats, which are high in carbohydrate! So by eating a high-carb food such as porridge, yes you are absorbing some of the dangerous cholesterol, but you are at the same time feeding your body with even more carbs which your liver will use to make more cholesterol. It becomes self-defeating.
If you weren't eating the carbs in the first place then you wouldn't need to reduce the cholesterol.