This week's book giveaway is in the OCMJEA forum. We're giving away four copies of OCM Java EE 6 Enterprise Architect Exam Guide and have Paul Allen & Joseph Bambara on-line! See this thread for details.
Local variables can't be private or public because those terms are meaningless; there's not even a syntax for accessing a local variable outside of the method that defines it. Since there's no access, there's no reason for access control.
"final" is meaningful though; it makes just as much sense to have a non-changeable local variable as a non-changeable member, and therefore, it's implemented.