Let's cut Beta-male some slack. MUN did explain it, but in very technical terms.
It is not necessary to ground the bridge to make the system work. However, there are radio and electro magnetic signals all around us. Neon and florescent lights are prime culprits for inducing buzzes and hums into your system. Other peoples amps and even your own can do the same. The strings act like big antennas and draw the signals in and the pickups in turn amplify the signal. If you ground the bridge you ground the strings and draw off the signal before the pickups are affected.
Not completely accurate, but gives the layperson an understanding of why this is done.
Greg N
It is not necessary to ground the bridge to make the system work. However, there are radio and electro magnetic signals all around us. Neon and florescent lights are prime culprits for inducing buzzes and hums into your system. Other peoples amps and even your own can do the same. The strings act like big antennas and draw the signals in and the pickups in turn amplify the signal. If you ground the bridge you ground the strings and draw off the signal before the pickups are affected.
Not completely accurate, but gives the layperson an understanding of why this is done.
Greg N
It's not competing a circuit, it's a stub.