The reason for grease of a cooked meat, like bakon, to be unhealthy it's the fact that it was cooked once already.
The cholesterol is there, but the cooking process on a fat creates free radicals and breaks fat into smaller parts.
So bakon grease is not like butter assomeone said, it is much worse than butter.
Never utilise any fat, including oil, twice. If you fry. Don't use it twice.
If you use it twice, all protective parts of a fat were gone of first cook and second would create many unhealthy compounds. We are not talking of cholesterole, but mutagens.
Manuela and Tina