Why would a neonate need so many anti-oxidants?

The condition known as jaundice (yellow skin and eyes) is a result of a build-up of bilirubin and is usually a sign of liver malfunction.  Newborn human infants often go through a period of fetal jaundice in which they turn yellow.  This usually reflects not a liver malfunction, but rather the destruction of huge numbers of red blood cells.  Why would newborns be cashing in so many red blood cells?  In serious cases, neonates are often put under special lights that promote the breakdown of bilirubin.  However, recent evidence demonstrates that bilirubin is a potent anti-oxidant.