Why doesn't CSS have basic vertical align?

Just wondering.

Why doesn't CSS have a simple way to vertically align within a div similar to the way valign works in a table?

(vertical-align isn't what I'm talking about)

I realize there are slightly convoluted hacks to get around the lack of function but for the life of me I can't figure out why such a basic layout function would be left out.

http://www.carbonated.tv/